US CPI coming up next. Fed December rate hike pricing rises above 50%

<p>CPI day is finally here with the US data due at the bottom of the hour. </p><p>The market has been making a hawkish shift ahead of the data, boosting the odds of a December Fed hike slightly above 50% and November not far behind. September is still seen at just 7% but with the ECB seemingly signalling a hike, the market is pricing in some groupthink.</p><p>The data will steer the market next but I suspect eyes are also on oil with WTI up another 40-cents today, ensuring that the September headline inflation number will continue to accelerate.</p><p>See:</p><p><a href="https://www.forexlive.com/news/us-august-cpi-preview-are-we-worried-about-now-or-later-20230912/" target="_blank" rel="follow">US August CPI preview: Are we worried about now or later?</a></p>

This article was written by Adam Button at www.forexlive.com.