Citi discusses its expectations for tomorrow's US CPI print for the month of August.
"We remain bearish on the USD over time as we remain optimistic on the global economic recovery in an environment where central banks continue to provide much accommodation. The highlight of the data calendar this week will be CPI on Tuesday," Citi notes.
"US CPI tomorrow is expected to see a 0.24%MoM increase in core CPI in August, rounding to 0.2%MoM but with risk of a stronger print that rounds to 0.3%. Our Econ team thinks this would be a softer increase than the 0.33% rise in July, partly due to an expected pullback in used car prices," Citi adds.