Monday's recap is here! Join us as we recap the highlights of the past week.
USD
The annual inflation rate in the US slowed for the fourth month in a row to 2.9 % in July 2024, reaching its lowest level since March 2021, compared to 3 % in June and below the forecast of 3 %. Core inflation also fell for the fourth month in a row to 3.2 %, the lowest level since April 2021. The decline in inflation relative to previous periods is not significant and therefore the question of a 25 or 50 basis point interest rate cut is still open.
On Thursday, the US dollar strengthened in response and new jobless claims. The number of new claims surprised market expectations and fell to 227 thousand. This was the lowest number of new claims in five weeks, calling into question recent data that reflected a significant slowdown in the US labour market and giving the Federal Reserve some leeway to not ease monetary policy to an extent that would threaten to fight inflation.
What's in store for us this week?
Monday: -
Tuesday: inflation in Eurozone (EUR), inflation in Canada (CAD)
Wednesday.
Thursday: PMI in Australia, Japan, France, Germany, Eurozone, UK and US + US jobless claims, Jackson Hole Symposium (USD)
Friday: Retail sales in New Zealand and Canada, inflation rate in Japan (JPY), speech by Jerome Powell, Jackson Hole Symposium (USD)
The first half of the week will bring us inflation rates in Canada and the Eurozone. Starting Thursday, the Jackson Hole Symposium will also get underway with a speech by Fed President Jerome Powell. The Jackson Hole Symposium is hosted annually by the Fed.
Sources:
English 
Czech 
Polish