Today's Inflation Data Puts the Fed in a Difficult Position
Here's what it means for markets:
US CPI held at 3.4%, in line with expectations. However, monthly inflation rose 0.3% vs. 0.2% expected, while Core CPI came in as expected and fell to its lowest level since March.
Analysis: Price is consolidating following an impulsive move, offering a defined risk-to-reward setup. Wait for the entry level rather than chasing the breakout.