In the European session, the main highlight was the UK CPI report. The data came out much higher than expected and will likely see traders reduce the probabilities for an August cut. Looking ahead, there's just the final Italy CPI figures on the agenda which won't matter much for the market.

In the American session, we have the US PPI report coming up. The Core PPI Y/Y is expected at 2.7% vs 3.0% prior, while the Core M/M measure is seen at 0.2% vs 0.1% prior. These would be welcome numbers as the PPI is more goods centred and goods inflation is what has picked up the most due to tariffs.

Central bank speakers:

  • 12:00 GMT/08:00 ET - Fed's Barkin (neutral - non voter)
  • 13:15 GMT/09:15 ET - Fed's Hammack (neutral - non voter)
  • 14:00 GMT/10:00 ET - Fed's Barr (neutral - voter)
  • 22:30 GMT/18:30 ET - Fed's Williams (neutral - voter)
Source: Forex Live