ES Range Expectations on the CPI Release

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Today we're again looking at ES e-mini futures for an expectation of the amount of range we could do on this CPI Inflation data release. We take a look at both the upside and downside to get a view on where the boundaries of normality would be to aid us in framing intraday trades.

Yesterday's PPI Inflation data gave us a large grinding day as we reverse some of those moves from the recent volatility. Lets see where we end up!

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Ghi chú

Well, it was a low-range CPI release after all, 25.25pts range which broke out of the 11.75pt range going into CPI on both sides then settled back in the middle.

By way of comparison, the average range of the Asia & European Session on ES over the last 30 trading days is 49.50pts so we only did half the normal range on CPI day (very odd).

Lets see what the US open has in store.

14 thg 8

Ghi chú

Hi Everyone, just to complete the picture - this did in fact end up being quite a low range day on ES, despite it being a CPI Inflation news release day... very unusual. In fact we only did 49pts of range for the full day which is just over half an Average Range.

Perhaps since the number came in almost exactly as expected or perhaps a sign that the FOMC's focus for decisions is starting to lean more on the employment side of their mandate.