TechFlow, August 12 — According to Jinshi Data, Francesco Pesole, an analyst at ING, said in a report that today's upcoming U.S. inflation data may exceed expectations, but any gains in the dollar are likely to be short-lived. He stated that labor market data have greater influence than inflation figures, as price shocks caused by tariffs are widely seen as temporary, and the latest non-farm payrolls report has already been significantly downwardly revised. He added that even if inflation comes in higher than expected, continued deterioration in the labor market could still align with market expectations for a Fed rate cut in September. This implies that above-forecast inflation is unlikely to trigger a sustained dollar rally. ING expects core CPI to rise 0.4% month-on-month in July, above the consensus estimate of 0.3%.
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