US CPI, Retail Sales Data to Test Fed Rate Cut Bets
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Investors panicked after NFP report; ISM non-manufacturing PMI returned to expansionary territory; Atlanta Fed GDPNow model predicts 2.8% q/q SAAR growth rate in Q3; Initial jobless claims saw largest drop in nearly a year; Market participants scaled back rate-cut expectations to around 100bps worth of cuts; US CPI data for July and retail sales numbers for the same month to be released; Expectations for headline CPI rate to hold steady at 3.0% y/y; Risks surrounding inflation may be tilted to the upside; Potential improvement in retail sales could ease recession fears and convince market participants that aggressive rate cuts are not necessary; Strong dollar could push euro/dollar back below 1.0900; Bears may drive action towards 1.0780 or 1.0745; Upside move may be a strong break above 1.1000.

#UsCpi #RetailSales #FedRateCut #Investors #RecessionFears #IsmNonmanufacturingPmi #AtlantaFedGdpnow #JoblessClaims #Inflation #TreasuryYields #UsDollar #Euro/dollar

https://www.investing.com/analysis/us-cpi-retail-sales-data-to-test-fed-rate-cut-bets-200650883