Macquarie FX and rates global strategist Thierry Wizman said in a report that US September CPI is expected to accelerate but is unlikely to force the Fed to hike at its October meeting. He said the print should not change the Fed's decision later this month and noted several Fed officials have signalled a preference for skipping meetings between hikes rather than consecutive moves. A Wall Street Journal survey showed analysts expect September headline CPI YoY to rise to 3.6% from 3.4% in August.

Macquarie FX and rates global strategist Thierry Wizman said in a report that US September CPI is expected to accelerate but is unlikely to force the Fed to hike at its October meeting. He said the print should not change the Fed's decision later this month and noted several Fed officials have signalled a preference for skipping meetings between hikes rather than consecutive moves. A Wall Street Journal survey showed analysts expect September headline CPI YoY to rise to 3.6% from 3.4% in August. Market pricing implies roughly a 19% chance of a rate increase at the Oct. 28 meeting.