FTSE 100 Live: UK blue-chips set for softer open as traders brace for US inflation test Proactive uses images sourced from Shutterstock Ahead of the open: Soft start predicted
Futures point to the FTSE 100 opening around 30 points lower, with nobody keen to take a big position before this afternoon’s US inflation print.
The consumer price index (CPI) reading comes after the regular monthly report last week showed the world’s largest economy shed more than 20,000 jobs in July.
Inflation has bubbled above the Federal Reserve’s 2% target for more than five years, and the Iran war has done very little to help since February.
Three policymakers voted for a hike to borrowing costs in July, and markets now expect at least one before the year is out.
Oil is the complicating factor, with both main crude contracts up again on Wednesday and roughly 14% higher over the past week as the Strait of Hormuz stays shut.
Asia was a mixed bag, though Seoul stood out with a 4.2% jump as Samsung Electronics (KRX:005930, LSE:BC94) and SK Hynix did the heavy lifting.