US CPI takes centre stage as markets look to unchanged the ship after the midterm selloff

The US inflation data is looming later and I suspect European market players might be more than happy to sit on their hands until then, according to investingLive. The October report is projected to show headline inflation increasing by 0.3% m/m, easing from 0.6% in September.

Key points

• The bigger question later today is whether the numbers will give markets another reason to feel better about themselves.
• Just be wary though that there is a crucial caveat to the release this time around.
• Even though tech shares have found their footing again, fears surrounding AI spending and potential regulatory hurdles haven't exactly disappeared.
• For now, I suspect dealers will be reluctant to chase the rebound too aggressively before getting a clearer inflation signal.

Inflation data: the details

As such, I wouldn't see much excitement in the hours to follow as market players keep their powder dry before the release; that unless we get some surprise headlines during the session. Just be wary though that there is a crucial caveat to the release this time around. The bigger question later today is whether the numbers will give markets another reason to feel better about themselves, especially following tech shares have recovered quite well since the selloff last week.

The Nasdaq added another 2.7% yesterday while the S&P 500 moved up by 2.3% as risk appetite rebounded alongside a sharp decline in oil prices. Even though tech shares have found their footing again, fears surrounding AI spending and potential regulatory hurdles haven't exactly disappeared.

However, for now, I suspect dealers will be reluctant to chase the rebound too aggressively before getting a clearer inflation signal.

Why traders are watching inflation data

Inflation figures decide how long central banks keep interest rates high. Hotter-than-expected readings usually lift bond yields and the local currency, while softer data raise hopes of rate cuts.

Price data feed straight into central-bank decisions, which makes them some of the most market-moving releases on the calendar for forex, bonds and stocks.

Market reaction and data

Crypto prices at the time of writing, from Binance spot data (2026-11-10 05:10 UTC):

On the currency side, the latest ECB daily reference rates (2026-11-09) show EUR/USD 1.1193, GBP/USD 1.3416, AUD/USD 0.6894, NZD/USD 0.5613, USD/JPY 157.95, USD/CHF 0.8187, USD/CAD 1.4103, USD/CNY 6.6728. These are reference fixes, not live quotes.

What to watch next for inflation data

Next in focus are the coming inflation releases, central-bank reaction to them and changes in market pricing for future rate moves.

Key scheduled releases on the economic calendar:

• USD Core CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.2%, previous 0.3%
• USD CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.3%, previous 0.6%
• GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
• USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
• USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%

Follow every update in our Top 10 Forex News Today, read Nikkei, KOSPI extend rebound as AI and chip equities jump, recouping Friday’s rout or see all of today's top market news.

FAQ

What is the latest inflation data news?

The US inflation data is looming later and I suspect European market players might be more than happy to sit on their hands until then.

Why do inflation numbers move markets?

Inflation data change expectations for central-bank interest rates, and rate expectations drive currencies, bond yields and stock valuations.

Where does this information come from?

This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.