01:30 PM BST, United States - Inflation Data for July:
-
Core PPI: actual 0.9% MoM; forecast 0.2% MoM; previous 0.0% MoM;
-
Core PPI: actual 3.7% YoY; forecast 2.9% YoY; previous 2.6% YoY;
-
PPI ex. Food/Energy/Transport: actual 2.8% YoY; previous 2.5% YoY;
-
PPI ex. Food/Energy/Transport: actual 0.6% MoM; previous 0.0% MoM;
-
PPI: actual 3.3% YoY; forecast 2.5% YoY; previous 2.4% YoY;
-
PPI: actual 0.9% MoM; forecast 0.2% MoM; previous 0.0% MoM;
01:30 PM BST, United States - Employment Data:
-
Initial Jobless Claims: actual 224K; forecast 225K; previous 227K;
-
Jobless Claims 4-Week Avg.: actual 221.75K; previous 221.00K;
-
Continuing Jobless Claims: actual 1,953K; forecast 1,960K; previous 1,968K;
Today's batch of macroeconomic data widely supports Fed's ongoing policy stance, pointing to persistent inflationary pressures and resilitent labour market. Producer prices came in largely above expactations, discrediting last month's significatly softer reading that initially suggested a limited tariff pass-throught. On the other hand, the jobless claims remain stable, with a total number falling more than expected.

Source: xStation5
Daily Summary- Return of the Sell-off on Wall Streetโฌ๏ธ
๐ดUS100 drops nearly 4%
๐กโฌ๏ธGold at its lowest since March
๐ข๏ธWTI Crude Below 90 USD Tests the 100-Session Average