It has been a bit of a slow week with it being the summer and when you throw in the anticipation to the US CPI data later today, it doesn't help with
It has been a bit of a slow week with it being the summer and when you throw in the anticipation to the US CPI data later today, it doesn’t help with how things have been so far this week. On top of that, there is a lack of meaningful economic releases and today is another one of those days in Europe as well.
Markets are lacking any real appetite as all eyes are fixated on the US consumer inflation report, so don’t expect much in terms of meaningful action in the session ahead. At most, we will see some positioning flows but any real convictions will only be settled once we get to the key release.
Looking ahead, we’ll have the final consumer inflation numbers for Germany for the month of July. It should just reaffirm elevated price pressures but keep in mind that there might be another spike to follow when the September report comes around.
0600 GMT – Germany July final CPI figures
1100 GMT – US MBA mortgage applications w.e. 5 August
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
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