The US dollar remained on the back foot throughout most of the week, with the jobs report allowing for a comeback. Is this a temporary correction or the start of a dollar rally? The upcoming week features US inflation figures, the JOLTs data, a rate decision in New Zealand and more.
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- Neel Kashkari talks: Monday 15:25 and also Friday at 15:30. The President of the Minnesota Fed is an outspoken dove that dissented from the previous rate hikes.
- US JOLTS Job Openings: Tuesday, 14:00. A small gain is on the cards now. A similar level of 566K is expected now
- Chinese inflation figures: Wednesday, 2:00. The recent rises imply higher inflation in other countries, especially in the US.
- US Unit Labor Costs: Wednesday, 12:30.
- Crude Oil Inventories: Wednesday, 14:30.
- New Zealand rate decision: Wednesday, 21:00.
- US PPI: Thursday, 12:30. Small gains are expected now as well1% on the headline and 0.2% on the core.
- US jobless claims: Thursday, 12:30. A small rise f240K to 244K is estimated.
- Bill Dudley talks: Thursday, 14:00. The President of the New York Fed is considered No.3 at the powerful institution. He is relatively close to the views of Fed Chair Janet Yellen and his response to the jobs report, including wages, will be of importance.
- US CPI: Friday, 12:30. For the month of July, both measures are expected to rise by 0.2%.
- Robert Kaplan talks: The President of the Dallas Fed has previously expressed worries about inflation. In his public appearance, he will have the chance to respond the latest inflation report and perhaps provide hints about the next moves by the Fed.
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