Inside today’s soft core CPI reading MoM, the details are less encouraging, however, pointing to lingering pressures in services, some goods and food.
US Nov CPI data has several significant statistical issues due to BLS unable to collect price data through October in the shut down period.
Today's NFP data headline weak data in unemployment rate needs to be seen in the context of a higher labor force participation rate.
A macro data heavy week lies ahead where we have NFPs, CPIs from US and central bank meetings of BOE, ECB & BOJ.
ADP's data for US private sector payrolls again came far below market expectations today indicating a fragile US labor market.
Weak Chinese PMIs show the deep extent of slowdown in Chinese economy.