All eyes are on the US Consumer Price Index report for June, and this should keep the markets in a bit of a bind until we get to the report date later today.
Core annual inflation is estimated to have slowed to 3.1%, and the core annual inflation rate is expected to remain unchanged at 3.4%.
Also, the monthly consumer price index is expected to rise by 0.1% and the core is stable at 0.2%.
Consumer prices are likely to continue to fall in June if expectations are correct, keeping inflation on track to a level that could give the Fed confidence to cut interest rates this year.
As much as the markets are eagerly awaiting the report, it may end up not changing anything.
In any case, do not expect major movements before we reach the inflation News date, which will be at 3:30 pm Egypt time.
