Important Information

You are visiting the international Vantage Markets website, distinct from the website operated by Vantage Global Prime LLP
( ) which is regulated by the Financial Conduct Authority ("FCA").

This website is managed by Vantage Markets' international entities, and it's important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

  • You will not be guaranteed Negative Balance Protection
  • You will not be protected by FCA’s leverage restrictions
  • You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
  • You will not be protected by Financial Services Compensation Scheme (FSCS)
  • Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

  • 1.The website is owned by Vantage Markets' international entities and not by Vantage Global Prime LLP, which is regulated by the FCA.
  • 2.Vantage Global Limited, or any of the Vantage Markets international entities, are neither based in the UK nor licensed by the FCA.
  • 3.You are accessing the website at your own initiative and have not been solicited by Vantage Global Limited in any way.
  • 4.Investing through this website does not grant you the protections provided by the FCA.
  • 5.Should you choose to invest through this website or with any of the international Vantage Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Vantage wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Vantage entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom

By providing your email and proceeding to create an account on this website, you acknowledge that you will be opening an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission (VFSC), and not the UK Financial Conduct Authority (FCA).

    Please tick all to proceed

  • Please tick the checkbox to proceed
  • Please tick the checkbox to proceed
Proceed Please direct me to website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom.


Watch Reborn a Trader


View More
  • All
  • Search
  • Forex Trading
  • Vantage Rewards
  • Trading Fees
  • facebook
  • instagram
  • twitter
  • linkedin
  • youtube
  • telegram

Week Ahead: US CPI To Take Centre Stage

Vantage Updated Updated Mon, 2023 August 7 01:25
Week Ahead: US CPI To Take Centre Stage

It’s a quiet calendar after a busy few weeks of big risk events. But markets will focus intensely on Thursday’s US inflation data, the first release of two CPI reports ahead of the September FOMC meeting. The June figures were pivotal for the current pause or skip Fed phase as a modest 0.2% monthly print brought annual headline inflation down to 3%, a third of its peak level. Consensus expects a similar outcome on Thursday, though the annual reading will likely tick up due to a base effect which reflects falling energy costs last summer dropping out of the annual comparison. Attention will be paid to price pressures in services. Shelter costs will also be in the spotlight due to their weight and scale in the CPI basket. They may keep inflation above the Fed’s 2% target for some time.

The slew of recent central bank meetings has highlighted that we are close to the end of the tightening cycle, one which has been one of the sharpest in monetary policy history. Rate hikes arguably take up to 18 months to impact the economy and markets may now need to heed the words of a former Bank of England official who last week spread a note of caution due to the “powerful, delayed monetary tightening” that could hit economies in the coming months.

In the meantime, this week’s big market moves were in bonds and Treasuries which remained under pressure due to the toxic combination of resilient US activity indicators, rising supply after the US stepped up plans to borrow more money, and the impact of the Fitch debt downgrade. The 10-year US Treasury yield popped up to levels last seen in November. The current market theme has pinned its hopes on a “soft landing” which ultimately would erode the chances of interest rate and borrowing costs falling sharply any time soon. That could be a negative for risky assets like stocks which have had a bumper first half of the year.

Major risk events of the week

09 August 2023, Wednesday

China CPI: The market median is for the July print to fall to -0.5% from a flat reading in June. Analysts say fixed prices and excess capacity should keep inflation low. Recently adopted measures by the government have yet to impact the economy.

10 August 2023, Thursday

-US CPI: The headline inflation print is set to pick up to 3.3% y/y from 3% in June due to an adverse base effect and remain unchanged at 0.2% m/m. The core rate is forecast to fall to 4.7% from 4.8% previously, with the monthly rate at 0.2%. There is one more CPI report the week before the next FOMC meeting in September. USD took a tumble after Friday’s labour market report showed a softening in certain areas. The cooling employment cost index and this expected benign report should add to the sense that the Fed’s work is done on tightening policy.

11 August 2023, Friday

-UK Q2 GDP: Last month’s data showed that the King’s Coronation and the extra bank holiday did little to change the monthly GDP reading. That means overall Q2 growth is likely to come in modestly positive which would confirm the economy is more-or-less stagnant. GBP suffered a third straight week of losses as markets see two more rate hikes by the BoE hitting the economy hard in the near future. But long-term trendline support from the March low could be acting as support.