German CPI , US Personal Income & Expenditure (2016.06.29)

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German CPI, US Personal Income & Expenditure – Again, any comments or developments from London or Brussels will probably be more important than the data. In fact that situation may continue for some time. As of the European close Tuesday however things were calming down and the “risk off” trade was beginning to wind down. Sterling was finding a bottom while JPY, CHF and gold were losing some of their recent gains, indicating that the rush to get protection was fading.


In this environment, traders who are willing to take on some risk may want to look atcarry trades, buying the high-yielding currencies (perhaps in EM) and selling the low-yielding ones. MXN and ZAR are likely to be some of the beneficiaries of a move back into risk-on trades.

German CPI

As for today’s data, during European time the focus will be on the German CPI report. Higher oil prices are likely to push the inflation rate up a bit. As usual, the excitement will start as soon as Saxony announces its figure first thing in the morning.

German CPI report



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