- European indices set for lower opening
- US CPI expected to ease slightly
- DOE report on US oil inventories
Futures markets point to a lower opening of the European cash session today, extending downbeat moods seen on the stock exchanges in the Asia-Pacific region. Similar sentiment can be spotted on precious metals and cryptocurrencies markets while energy commodities pull back.
Calendar for the day ahead includes some interesting releases. A top macro event of the day will be a release of the US CPI inflation report for July at 1:30 pm BST. Price pressure is expected to decrease slightly, however, the core reading is estimated to have increased from 5.9% in June to 6.1% in July. Continued acceleration in price growth will give the Fed more courage to tighten policy quickly. Oil may see some moves following the release of the DOE report (3:30 pm BST).
9:00 am BST - Italy, CPI inflation for July (final). Expected: 7.9% YoY. Previous: 8.0% YoY
1:30 pm BST - US, CPI inflation for July.
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Headline. Expected: 8.7% YoY. Previous: 9.1% YoY
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Core. Expected: 6.1% YoY. Previous: 5.9% YoY
3:30 pm BST - US, DOE report on oil inventories.
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Oil inventories. Expected: +0.073 mb (API: +2.15 mb)
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Gasoline inventories. Expected: -0.633 mb (API: -0.63 mb)
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Distillate inventories. Expected: +1.5 mb (API: -0.667 mb)
Wall Street earnings releases
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Disney (DIS.US) - after market close
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Bumble (BMBL.US)- after market close.
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Wendy's (WEN.US) - before market open
