The U.S. July CPI report is set for release at 20:30 tonight. Markets broadly expect lower gasoline prices to pull headline inflation down, weakening the case for further rate hikes. However, the Middle East conflict remains unresolved and core services inflation stays sticky, leaving the inflation path uncertain.
ChainCatcher — The U.S. July CPI report is due out tonight at 20:30.
Most of the market expects cheaper gasoline to pull inflation down and chip away even more at the argument for rate hikes. But the Middle East conflict is still simmering. And core services inflation? Still sticky.
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