Inflation

Cooling US Inflation Pulls Euro Zone Yields Lower as Fed Cut Odds Firm

July CPI moderation drives a synchronized bid across European sovereign debt, while Goldman Sachs pencils in a 0.23% core PCE print — reinforcing the disinflation narrative underpinning risk assets.

Softer-than-feared July US inflation data triggered a decline in euro zone bond yields as global rate expectations reset lower. Goldman Sachs projects core PCE at +0.23% month-on-month, consistent with a gradual return toward target and supportive of a policy easing path.

Dollar Mixed, Gold Anchored Above $4,400 as Markets Brace for July CPI

Currency and bullion markets settle into a holding pattern ahead of a US inflation print that will shape the Federal Reserve's autumn policy path, with gold's historic price plateau signaling persistent hedging demand.

The US dollar traded mixed and gold held above $4,400 an ounce as investors positioned defensively ahead of the July consumer price index release. The muted cross-asset action reflects a market unwilling to take directional risk into a data point widely viewed as decisive for the Fed's next move.

European Equities Drift Lower as Oil's Six-Day Rally Collides With U.S. Inflation Risk

Crude's longest winning streak of the season revives cost-push concerns just as traders brace for a pivotal U.S. CPI print, leaving European benchmarks in a defensive holding pattern despite a strong corporate earnings tape.

European bourses edged lower as a six-session advance in crude oil and looming U.S. inflation data kept risk appetite in check. The soft index tone masked a bifurcated earnings season, with guidance raises at Balfour Beatty, Bechtle and Schott Pharma offset by profit warnings and rate-driven pressure elsewhere.

Dollar, Asia FX Stall as U.S. CPI Looms; Hormuz Tensions Reignite Crude Risk Premium

Currency markets tread water into the U.S. inflation print while renewed friction around the Strait of Hormuz lifts oil, leaving macro desks positioned for a two-sided volatility event.

Asian currencies and the dollar were rangebound ahead of the U.S. consumer price report, with traders unwilling to commit ahead of a print that will shape Federal Reserve expectations. Simultaneously, escalating tensions around the Strait of Hormuz pushed crude higher, reintroducing an energy-driven inflation channel just as payroll revisions raise questions about underlying labor market momentum.

Precious Metals Miners Bank Record Cash Flow as Shelter Inflation Clouds the Bull Case

Hecla Mining reports record free cash flow and a debt-free balance sheet alongside i-80 Gold's quarterly update, even as strategists warn that persistent shelter inflation could delay the rate cuts underpinning the gold trade.

Hecla Mining posted record free cash flow with a debt-free balance sheet, and i-80 Gold reported quarterly results, capping a period of exceptional operating leverage for precious metals producers. But the macro backdrop is turning ambiguous: analysis flagged this session argues that sticky shelter inflation in the forthcoming CPI print signals inflation persistence, which would push out the Federal Reserve easing path that has been the primary driver of the bullion rally.

Warsh Fed Signals 2% Orthodoxy as Trump Confirms Direct Contact With Chair

President says he spoke with Fed Chair Kevin Warsh last week as strategists question whether a debt-laden Treasury can tolerate genuine price stability; PCE methodology critique adds to credibility debate

President Trump disclosed direct contact with Fed Chair Kevin Warsh, sharpening focus on central bank independence just as Warsh recommits to a 2% inflation target. Analysts argue the arithmetic of US debt service makes sustained disinflation politically and fiscally improbable, while separate research questions whether the Fed's preferred PCE gauge is even measuring the economy accurately.

MARKET ALERT: WTI Extends Rebound as Middle East Risk Premium Rebuilds

Crude grinds higher for a second session as geopolitical supply risk reasserts itself, complicating the disinflation narrative just as equity indices stall following last week's robust move.

West Texas Intermediate extended its rebound, with traders rebuilding a Middle East risk premium into the front of the curve. The move arrives as broader equity markets edge lower after last week's strong advance, and as energy income strategies attract fresh scrutiny over payout durability. Colombian equities were an idiosyncratic underperformer following a deadly earthquake.

Stocks steady ahead of inflation data as labor market softens

US index futures were little changed before a key inflation report, with a weakening jobs picture feeding expectations for Federal Reserve rate cuts.

RBA expected to hold as inflation cools and housing weakens

Economists expect the Reserve Bank of Australia to leave rates unchanged at its August meeting, citing easing inflation alongside signs of a softening housing market.

Bitcoin tops $65,000 ahead of US inflation data as XRP lags

Bitcoin, ether and BNB each rose close to 3% on the week with global equities near records, while XRP fell 5% despite continued ETF inflows.

China's consumer inflation eases in July as factory-gate deflation moderates

Chinese consumer price growth slowed in July while producer prices fell at a shallower pace, leaving the economy still short of durable pricing power.

Investors look to inflation data and Cisco, Super Micro results in the week ahead

Upcoming U.S. inflation figures and earnings from Cisco, Super Micro Computer, Rocket Lab and Tapestry are among the events on investors' calendars this week.

Inflation Data Set to Test Record US Stock Market and Fed Rate Expectations

Upcoming US consumer price data arrives with equity indexes at records and investors debating whether the Federal Reserve's next move is a cut, a hold, or a hike.

UBS: AI-Driven Tech Volatility Matches Dot-Com Era Extremes

UBS said volatility in technology shares tied to the artificial-intelligence trade has reached levels last seen during the dot-com period, as investors turn to this week's CPI report.