Daily digest market movers: Gold price remains steady above $2,580
- Wall Street economists estimate that US Retail Sales will decline from 1% to 0.2% MoM.
- US Industrial Production is expected to improve from July's -0.6% contraction to 0%.
- Besides the Federal Open Market Committee Decision (FOMC), investors will eye the Summary of Economic Projections (SEP), particularly the Dot Plot for forward guidance on interest rates.
- Data from the Chicago Board of Trade suggests that the Fed is expected to cut at least 112 basis points this year, based on the fed funds rate futures contract for December 2024.
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