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What are the main events for today?

investinglive.com · 2hShare

EUROPEAN SESSION In the European session, the main highlight is the Spanish CPI report. Headline CPI Y/Y is expected to rise further to 4.6% vs 4.3% prior, but the focus will be on the Core measure which has ticked lower to 2.9% in the prior reading. The market is currently pricing roughly a 31% chance of an ECB rate hike in October, so if we get hot inflation numbers this week, we should see those odds rising above 50% and the central bank following suit. If we get a surprising breakthrough in US-Iran relations before the next ECB meeting, then we might see a dovish repricing across the board, with the central bank holding off from raising rates in October. AMERICAN SESSION In the American session, we have the Canadian monthly GDP, the US Consumer Confidence report and the US Job Openings data. None of the data is going to change much for the respective central banks, as both the BoC and the Fed are mainly focused on inflation. The more important event should actually be a potential a

First report: What are the main events for today? — investinglive.com, 1d