- Preview: What's expected for Tuesday's US CPI report?
- US CPI data due Tuesday: Here are the ranges of estimates (and why its crucial to know)
The week won't officially begin until we get the inflation numbers later. Major currencies were sidelined yesterday and while equities initially ripped higher, US stocks gave it all back to wrap up the trading day. That speaks to the tentative mood as we await the main event.
There's no bigger economic data release in markets these days and traders are all waiting on that before proceeding with their next moves.
As mentioned yesterday, the data might not have much significance for a March rate cut at this point. However, it will still have significant connotations for any potential Fed move in May or June.
Given what is at stake, we might be in for a more muted and sideways session in Europe. That is barring any positioning plays going into the data release itself.
