📍 Notable macro week: The focus is on U.S. CPI data

📌 12/8 – CPI & Core CPI for July of the US
- This is the key data for this week, which may determine the next direction of the Fed. If inflation cools down, expectations for interest rate cuts will rise; conversely, higher-than-expected data will reinforce the stance of keeping interest rates.

📌 14/8 – PPI for July of the US
- US PPI ( for July 7): indicates price pressure from the production side - often leading the CPI trend in the upcoming months.

📌 15/8 – Retail Sales & Consumer Sentiment (USA)
- Retail sales: Measure the purchasing power of consumers, a vital factor for the growth of the US GDP.
- The consumer confidence index reflects spending expectations and economic outlook in the eyes of the public.

💡This week the market will revolve around CPI: This data not only affects yields, DXY, but also guides the flow of money into risky assets such as stocks and crypto. Currently, the market is almost certain that interest rates will be cut by 25bps in September (FedWatch CME >90%).