Economic calendar: Canadian CPI report and speeches by FOMC representatives 📃

Today's macroeconomic calendar is relatively light and lacks events that could significantly impact global financial markets. The most important events are likely to be the release of the Canadian CPI report and speeches by FOMC representatives, Bostic and Barr, later in the day.

Tuesday is expected to continue the calm start of the week. The second half of the week, starting from Wednesday, will be more interesting, beginning with the release of the minutes from the latest Fed meeting. Today's key event will be the release of the Canadian CPI report for July. Expectations indicate a further decline in annual inflation to 2.5%, although monthly inflation is expected to rise to a relatively high 0.4%.

Later in the day, we will hear from two FOMC representatives, Barr and Bostic. Barr is considered one of the most dovish members of the board, while Bostic is regarded as one of the most hawkish, after Bowman. Therefore, their comments on the economic situation today may provide interesting and diverse insights.

Detailed calendar for the day:

10:00 AM BST, Euro Zone - Inflation Data for July:

• Core CPI: forecast -0.2% MoM; previous 0.4% MoM;
• Core CPI: forecast 2.9% YoY; previous 2.9% YoY;
• CPI: forecast 2.6% YoY; previous 2.5% YoY;
• CPI: forecast 0.0% MoM; previous 0.2% MoM;
• HICP ex Energy & Food: forecast 2.8% YoY; previous 2.8% YoY;
• HICP ex Energy and Food: forecast -0.1% MoM; previous 0.4% MoM;

10:30 AM BST, Switzerland - SNB Chairman Thomas Jordan speaks

01:30 PM BST, Canada - Inflation Data for July:

• Trimmed CPI: forecast 2.8% YoY; previous 2.9% YoY;
• Median CPI: forecast 2.5% YoY; previous 2.6% YoY;
• Core CPI: previous -0.1% MoM;
• Core CPI: previous 1.9% YoY;
• CPI: forecast 2.5% YoY; previous 2.7% YoY;
• CPI: forecast 0.4% MoM; previous -0.1% MoM;

06:35 PM BST, United States - FOMC Member Bostic Speaks

07:45 PM BST, United States - Fed Vice Chair for Supervision Barr Speaks