WuBlockchain’s weekly macro note said markets will be watching U.S. inflation data this week, including CPI and PPI, alongside Unitree’s subscription event and the Bank of Japan’s summary of opinions from its July monetary policy meeting.
Last week’s data recap
U.S. seasonally adjusted nonfarm payrolls fell by 23,000 in July, compared with market expectations for an increase of 80,000. The previous reading was revised to a gain of 20,000 from an earlier gain of 57,000.
The U.S. unemployment rate was 4.1% in July, below the 4.2% expectation. The previous reading was 4.2%.
Initial jobless claims in the U.S. for the week ended Aug. 1 came in at 199,000, versus a forecast of 202,000.
U.S. ADP employment increased by 44,000 in July, missing the 70,000 consensus estimate.
New York Fed President John Williams said he expects U.S. inflation to keep declining in the second half of this year and in the next year.
On the corporate side, SpaceX posted better-than-expected revenue of $7.8 billion in the second quarter of 2026, or about RMB 52.6 billion, nearly doubling from $4.1 billion a year earlier. Its net loss narrowed 46.3% year over year to $541 million, or about RMB 3.65 billion.
China’s July CPI rose 0.5% year over year, below the 0.80% expectation and the previous 1.00% reading.
Key events and indicators this week
Aug. 10
- China July M2 money supply growth
- Unitree subscription event
- Bank of Japan releases the summary of opinions from the July monetary policy meeting (07:50)
Aug. 12
- U.S. July non-seasonally adjusted CPI annual rate (20:30)
Aug. 13
- U.S. initial jobless claims for the week ended Aug. 8 (20:30)
- U.S. July PPI annual rate (20:30)