• -0.05% after closing down 0.3% amid broad-based risk-off USD +0.45% strength

• China inflation to lead risk appetite/USD/sterling in Asia- U.S. CPI tonight

• NIESR believes UK inflation will exceed BoE target for the next 4 years

• Wage growth to hold at 6%, 60% chance of recession next year NIESR

• Sombre outlook is at odds with official forecasts - upcoming data pivotal

• Charts, daily momentum studies conflict, 21-day Bollinger bands expand

• 5, 10 & 21-day moving averages edge lower - net a modest negative setup

• New York 1.2685-1.2752 range is initial support and resistance

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