The CPI importance is fading ...Middle East

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The CPI importance is fading
Michael Brown, Senior Research Strategist at Pepperstone, shared on X an interesting finding today. "The EUR overnight implied volatility sits at 8.8% into CPI later on, implying a move of +/-40 pips over the tenor. That's the lowest level o/n implieds have traded on 'CPI Day' since back in 2021".This is just another evidence showing us that the importance of inflation data is starting to fade and the market's focus has shifted towards growth and the labour market. There are two main reasons for such development: Central Bank FocusThe first one is that the Fed has been mentioning countless times that they are very focused on the labour market and that an unexpected deterioration will call fo

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