The Bureau of Labor Statistics (BLS) will publish the highly anticipated Consumer Price Index (CPI) inflation data from the United States (US) for July on Wednesday at 12:30 GMT.
The US Consumer Price Index is forecast to rise 2.9% YoY in July, at a softer pace than June’s 3% increase. Annual core CPI inflation is expected to soften to 3.2%. The inflation data could influence the probability of a 50 bps Fed rate cut in September. The Bureau of Labor Statistics will publish the highly anticipated Consumer Price Index inflation data from the United States for July on Wednesday at 12:30 GMT.
In case the monthly core CPI, which is not distorted by base effects and the prices of volatile items, rises 0.3% or more, investors could lean towards a 25 bps rate reduction at the next Fed meeting. The market positioning suggests that such a reading could trigger a rebound in the US Treasury bond yields and help the US Dollar gather strength against its rivals with the immediate reaction.
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