July U.S. inflation test looms after weak payrolls cloud Fed September rate path

July U.S. inflation data is set to take center stage after unexpectedly weak July nonfarm payrolls data undermined confidence in a Federal Reserve rate increase in the coming months. Payrolls fell by 23,000 in July, far below economists’ Wall Street Journal survey forecast for an 83,000 increase, raising fresh doubts about whether the Fed could lift interest rates in September. Elsewhere, investors are tracking an interest-rate decision in Australia, the Bank of Japan’s latest Summary of Opinions for clues on the timing of its next rate increase, eurozone and U.K. gross domestic product data, and ongoing developments in the Middle East.

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July U.S. inflation test looms after weak payrolls cloud Fed September rate path - CoinPost Terminal