It’s a steady and quiet start to trading this week and that’s understandable. Market participants will remain somewhat cautious, awaiting some big US data in the coming days.
We’ll get a quick look at the PPI report tomorrow, but the biggest event to watch this week is Wednesday’s CPI report. Here’s the full list of key events to watch this week.
Traders have calmed down after last week’s panic but are still pricing in about a 46% chance of a 50 basis point rate cut in September. Given concerns about the labor market and economy, further confirmation of the disinflationary momentum is likely to prompt traders to once again call on the Fed to accelerate the pace of rate cuts.
All this in the name of trying to ensure that stock prices continue to rise.
That’s where we are in this cycle now. Good stuff, right?
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