Midweek trading ideas: How might markets react to US CPI?

This week brings a busy schedule of economic data and central bank meetings, with US consumer and producer price index readings out on Wednesday and Thursday, respectively, and the European Central Bank set to raise interest rates on Thursday. Markets are pricing in a more than 90% probability that the ECB will increase the cost of borrowing by 25 basis points to 2.25%, with ECB president Christine Lagarde’s subsequent press conference set to be a focus of attention. This all comes ahead of next week’s rate-setting meetings at the US Federal Reserve, Bank of Japan and Bank of England. Following the stronger-than-expected US non-farm payrolls report, the dollar has strengthened against the euro, pound and yen. Meanwhile, Brent crude continues to trade above $91 a barrel, gold has broken below an important support level, and several major equity indices have seen momentum weaken. Website: http://www.cmcmarkets.com/en-gb/ 📺 Get the latest daily analysis on key markets such as US 30, UK 100, Germany 30, Japan 225, USD/JPY, EUR/USD, GBP/USD, Brent and West Texas Crude Oil and Gold via our CMC TV playlist. CMC Markets is a global leader in online trading, offering spread betting and contracts for difference (CFDs). Learn how to spread bet and trade CFDs with our trading strategy videos. CMC Markets offers trading on thousands of financial markets including forex, indices, commodities, shares and treasuries. ➡️ Subscribe and don't miss another update! https://www.youtube.com/channel/UC_Q-HdXuWScFretXS7GfEjw?sub_confirmation=1 Follow us: X (Twitter): https://twitter.com/CMCMarkets LinkedIn: https://www.linkedin.com/company/cmc-markets/ Facebook: https://www.facebook.com/cmcmarkets.uk Follow Michael Kramer: X (Twitter): @MichaelMOTTCM YouTube: @Themarketchronicles This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. CMC shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember spread betting and trading CFDs carries significant risks and may not be suitable for all investors.