WuBlockchain’s weekly macro roundup highlighted a series of data points from last week and several events on the calendar for the days ahead. In the U.S., July CPI came in at 3.4% year over year, matching expectations, while July PPI slowed to 4.7%, the lowest reading since March and below the 4.9% forecast. Initial jobless claims for the week ending Aug. 8 rose to 209,000, the highest level since the week of July 11, versus expectations for 202,000; the prior reading was revised to 200,000 from 199,000. In China, July M2 money supply growth was 7.7%, below the 7.9% estimate and the previous 8.0%. WuBlockchain also noted that minutes from the Bank of Japan’s July meeting carried a hawkish tone, with rising inflation risks and one member calling to “accelerate rate hikes.” Looking ahead, the outlet listed Aug. 17 comments from U.S. Treasury Secretary Bessent on measures against Iran, Yushu Technology’s expected listing window in late August, and the release of Federal Open Market Committee minutes on Aug. 20 as the week’s main items to watch.
WuBlockchain’s weekly macro note pointed to three headline items for the week ahead: comments from U.S. Treasury Secretary Bessent on Iran-related measures, the expected listing window for Yushu Technology, and the release of Federal Open Market Committee minutes.
Last week’s data
U.S. July CPI, on a non-seasonally adjusted basis, rose 3.4% year over year, in line with the 3.4% consensus.
Initial jobless claims in the U.S. for the week ending Aug. 8 came in at 209,000, the highest since the week of July 11. The market expectation was 202,000, and the prior figure was revised to 200,000 from 199,000.
U.S. July PPI rose 4.7% year over year, below the 4.9% forecast and down from the prior 5.50% reading. WuBlockchain said the figure marked the lowest level since March.
China’s July M2 money supply growth was 7.7%, versus a 7.9% expectation and a previous reading of 8.0%.
Minutes from the Bank of Japan’s July meeting showed a hawkish tilt. According to the summary, upside inflation risks were intensifying, and one member called to “accelerate rate hikes.”
Events to watch this week
On Aug. 17, Bessent said the U.S. would impose “unprecedented” measures on Iran.
On Aug. 18, Yushu Technology is expected to list in the second half of August, within the Aug. 18 to Aug. 24 window.
On Aug. 20 at 02:00, the Federal Reserve will release its monetary policy meeting minutes.
Later the same day at 20:30, the market will also watch U.S. initial jobless claims for the week ending Aug. 15.
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