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Daily digest market movers: Finally, some moves to come

ia7145
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  • At 12:30 GMT, different economic data will be released at the same moment. Let us walk you through the main numbers to focus on:
    • US CPI for June:
      • Monthly headline CPI is expected to tick up marginally by 0.1% from 0.0%.
      • Monthly core CPI should remain stable at 0.2%.
      • Annual headline CPI should increase at a slower pace of 3.1% from 3.3% in May.
      • Annual core CPI is expected to grow steadily at 3.4%.
    • Weekly Jobless Claims for the week of July 5:
      • Initial Claims are expected to head to 236,000 from 238,000.
      • Continuing Claims are seen heading to 1.860 million from 1.858 million.
  • At 15:30 GMT, President of Federal Reserve Bank of Atlanta Raphael Bostic participates in a moderated conversation at the NCUA's Diversity, Equity, and Inclusion Summit in Minneapolis, United States.
  • Equity markets are gearing up for the next earnings season, which gets underway with earnings from Pepsico and Delta before the opening bell on Thursday. Equities overall are in a good mood with solid gains in Asia and positive returns in Europe, while US futures are lagging a touch. 
  • The CME Fedwatch Tool is broadly backing a rate cut in September despite recent comments from Fed officials. The odds now stand at 70.0% for a 25-basis-point cut. A rate pause stands at a 26.7% chance, while a 50-basis-point rate cut has a slim 3.3% possibility. 
  • The US 10-year benchmark rate trades at 4.28% and remains near the lower level for the week

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