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What are the main events for today?

US CPI report expected today; Core CPI M/M focus critical for Fed rate decision and Jackson Hole speech.

· Source: investinglive.com

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Summary

Today's US CPI release is the headline event, with consensus expecting headline CPI at 3.4% YoY (vs. 3.5% prior) and Core CPI at 2.5% YoY (vs. 2.6% prior). The monthly core inflation print (expected 0.2% vs. 0.0% prior) is the key metric—FOMC members have flagged it as decisive for September rate hike odds. Even an in-line beat could trigger outsized market moves given its relevance to Fed Chair Warsh's Jackson Hole speech. European session will be subdued ahead of the print; Italy's CPI is backgrounder noise.

HomeWhat are the main events for today?What are the main events for today?NewsGiuseppe Dellamotta2 hours agoAll eyes on the US CPI reportEUROPEAN SESSIONIn the European session, we don't have much on the agenda other than the final Italy's CPI report.

The data is not going to change anything for the ECB, so the market reaction will be muted. The price action will likely be mostly rangebound as traders will be waiting for the key US CPI report.AMERICAN SESSIONIn the American session, all eyes will be on the US CPI report.

The US CPI Y/Y is expected at 3.4% vs 3.5% prior, while the M/M measure is seen at 0.

1% vs -0.4% prior. The Core CPI Y/Y is expected at 2.

5% vs 2.6% prior, while the M/M figure is seen at 0.2% vs 0.

0% prior. The data will be critical for Fed Chair Warsh's speech at the Jackson Hole Symposium and for the September rate hike expectations. The focus will be mainly on the Core CPI M/M measure since a few FOMC members mentioned that the monthly pace in core inflation will be key for their decision.

Therefore, this should be one of those rare reports where an in-line figure could still trigger a significant market reaction. ADVERTISEMENT - CONTINUE READING BELOWText SizeTagsmarket overviewAdd as a preferredsource on GoogleMost PopularUSD/JPY stalls ahead of a key US CPI report; BoJ expected to raise rates in SeptembereasyMarkets Reports More Cautious Trading as Gold and Oil Lead Q2 Activity Italy inflation eases just a touch in July, core price keep steady thoughWhat is the distribution of forecasts for the US CPI?Bitcoin Forecast Today: Why BTC Is Struggling Below $64,000Nasdaq consolidates as traders await a key US CPI report ahead of Jackson Hole SymposiumFX option expiries for 12 August 10am New York cutWhat are the main events for today?

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