Key Events to keep an eye on this week! (WC - 08/06/2024)

A few events to keep an eye on again this week:

Tuesday & Wednesday 9/10th July

Fed Chair Jerome Powell Testifies - 14:00 UTC

Fed Chair Powell is scheduled to appear before Congress Tuesday and Wednesday. He will first answer questions at a U.S. Senate session before he visits the Republican-controlled House the following day.

Investors will be looking for further clues on when the Fed plans to cut interest rates. Powell recently said the fight against inflation has made progress, but more is needed before the Fed can introduce rate cuts.

Thursday 11th July

CPI + Core CPI - 12:30 UTC

CPI - Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas.

Core CPI - The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The Central bank pays very close attention to this figure in its role of maintaining price stability.

Expectations:

CPI (Y/Y)

Expected = 3.1%

Previous = 3.3%

CPI (M/M)

Expected = 0.1%

Previous = 0.0%

Core CPI (M/M)

Expected = 0.2%

Previous = 0.2%

Friday 12th July

PPI + Core PPI - 12:30

The Producer Price Index (PPI) is a family of indexes that measures the average change over time in selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller.

PPI m/m

Expected = 0.1%

Previous = -0.2%

Core PPI m/m

Expected = 0.1%

Previous = 0.0%

Let’s see how the market reacts to these events. And let’s have a great week!🤝