(13 OCTOBER 2017)DAILY MARKET BRIEF 1:Distortion in CPI data expected

The US dollar has reversed gains as investors’ confidence in Trump’s tax reform fell again. After sliding as much as 1.50% since the beginning of the week, the dollar index consolidated slightly above 93 on Friday morning. However the week is far from over, the market is awaiting the release of fresh inflation data. Investors have revised their inflation expectations to the upside in September. Median forecasts for the headline measure inched up to 2.3%y/y, compared to a print of 1.9% in the previous month, in anticipation of side effects from the series of storms that hit the US during the month of September. Core inflation is expected to have risen but in to a smaller extend as investors anticipate it will print at 1.8%, up from 1.7% in August.

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