The CPI is the only important economic data this weekđ€š
Wednesday's CPI will be the only data of note this week, with consensus expecting a ~0.2% Core MoM print thanks to expectations of further downward price pressures on vehicle sales and shelter inflation. However, CPI days have disappointed in terms of realized moves this year, with Citi reporting that the average move in 2023 to be merely +/- 0.62%.
In terms of event volatilities, Jackson is currently priced as the most important event through to early September, beating out both this week's CPI and post-Labor Day NFP.
