US Inflation Update Takes Center Stage In New Week

The macro docket's not exactly "crowded" this week, but there's enough on the schedule to keep things a modicum of interesting. A CPI update out of the US (on Wednesday) is obviously the marquee event. Consensus expects 0.3% from the MoM core reading, which is the only print that really matters for traders who'll parse it out to at least two decimals. As a reminder, core CPI overshot for three consecutive releases, which is to say every Q1 MoM print on the core gauge surprised to the upside.