Swiss headline inflation (released 0730BST/0830CET) is expected to have remained steady on a Y/Y basis for the second consecutive time, with consensus standing at +1.4% Y/Y and +0.1% M/M (vs +1.4% and +0.3% in May, respectively). Core CPI is expected to have accelerated slightly, however - consensus stands at +1.3% Y/Y (vs +1.2% May).
MNI, SECO, Bloomberg
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Swiss CPI is due for release at 7:30BST / 8:30CET. Headline inflation is expected to have remain steady on a Y/Y basis in May after April's pronounced uptick, with consensus standing at +1.4% Y/Y and +0.3% M/M (vs +1.4% and 0.3% in April, respectively). Core CPI is expected to have accelerated further, however - consensus stands at +1.3% Y/Y (vs +1.2% Apr).
BTP futures traded sharply lower last week and in the process cleared support at 116.94, the May 15 low. The move down strengthens a bearish threat and a continuation would open 115.76, the Apr 25 low and a bear trigger. Clearance of this level would highlight an important technical break. On the upside, initial resistance is at 117.57, the 50-day EMA. Firmer resistance is seen at 119.00, the May 16 high.
The broader USD (BBDXY) sits a little above both its Monday and Asia-Pac lows, after reversing early Asia weakness.