US: Fed speak and producer prices in focus - TDS

A subdued US data calendar will see markets focus attention on NY Fed President Dudley’s 10:00 ET press briefing, according to analysts at TDS.

Key Quotes

“Dudley will be speaking primarily on regional wage inequalities but a media Q&A could offer more detail on the policy outlook. Looking to the data, producer prices for July will be released at 8:30 ET and the market looks for a 0.1% m/m increase, which would see producer price inflation rebound to 2.2% y/y from the current 2.0%. The market looks for core producer prices (ex. food, energy, trade services) to post a 0.2% m/m rise while initial jobless claims, the only other release, are expected by the market to remain unchanged at 240k.”