This Week: US CPI report in focus

• US CPI report scheduled for July 15
• Inflation remains central to Fed outlook
• USDInd linked closely to CPI outcome
• US500 may react to rate-sensitive data
• NAS100 sensitive to inflation signals

Next week’s US CPI release (Tuesday, July 15th) is set to be an important moment for the markets, with investors bracing for potential volatility. Inflation expectations are in sharp focus, and the report could influence the Fed’s policy outlook, potentially impacting the USDInd, US500, and NAS100.

Whether inflation shows signs of easing or proves higher-than-expected, traders should prepare for directional moves. As anticipation builds, market sensitivity to macro data remains elevated.

Events Watchlist:

US Dollar Index – USDInd

The USD could see movement depending on the CPI print. A hotter-than-expected reading may lift the dollar toward 50-day MA. Conversely, a softer CPI could weaken the greenback, dragging USDInd towards ~96.393 level as Fed cut bets intensify.

S&P500 Index – US500

A cooler CPI could support a bullish push in equities, potentially driving US500 toward new record highs. However, an upside surprise might trigger profit-taking and a retreat toward the 21-day SMA, as rate-sensitive sectors adjust.

Nasdaq 100 Index – NAS100

Tech-heavy NAS100 is particularly vulnerable to shifts in rate expectations. A benign inflation print could fuel renewed optimism in growth stocks, targeting new all-time highs. But a strong CPI surprise could trigger a downside reaction, potentially testing support around 22 390.

Here’s a comprehensive list of other key economic data and events due this week:

Monday, July 14

• SG20: Singapore GDP (Q2)
• CNY: China Balance of Trade (Jun); New Yuan Loans (Jun)
• GBP: UK BRC Retail Sales Monitor (Jun)
• EUR: EU 2028, 2034, 2054 Bonds Auctions

Tuesday, July 15

• AU200: Australia Westpac Consumer Confidence (Jul)
• CHINAH: China GDP (Q2); Industrial Production and Retail Sales (Jun)
• EU50: Eurozone Industrial Production (May); ZEW Economic Sentiment Index (Jul)
• EUR: Germany ZEW Economic Sentiment Index (Jul)
• CAD: Canada Inflation Rate (Jun)
• USD: US Inflation Rate (Jun); Fed Speeches: Fed Governor Bowman, Fed Governor Barr, Boston Fed President Collins, Dallas Fed President Logan
• WTI: API Crude Oil Stock Change (w/e Jul 11); OPEC Monthly Report
• J.P. Morgan: Earnings

Wednesday July 16

• UK100: UK Inflation Rate (Jun)
• EUR: Eurozone Balance of Trade (May)
• US500: US PPI (Jun); Industrial & Manufacturing Production (Jun); Biege Book; Fed Speeches: Cleveland Fed President, Fed Governor Barr, NY Fed President Williams
• WTI: EIA Crude Oil Stocks Change (w/e Jul 11)
• JPY: Balance of Trade (Jun); Foreign Bond Investment and Stock Investment by Foreigners (w/e Jul 12)

Thursday, July 17

• AUD: Australia Consumer Inflation Expectation (Jul); Employment data (Jun)
• SG20: Singapore Balance of Trade (Jun)
• CHF: Swiss Balance of Trade (Jun)
• GBP: UK Unemployment Rate (May)
• USD: US Retail Sales (Jun); Initial Jobless Claims (w/e Jul 12); Fed Speeches: Fed Governor Kugler, Fed Governor Cook, Fed Governor Waller
• NG: EIA Natural Gas Stocks Change
• JPY: Japan Inflation Rate (Jun)
• Netflix: Earnings

Friday, July 18

• GER40: Germany PPI (Jun)
• USD: US Michigan Consumer Sentiment (Jul)
• SPN35: Spain Balance of Trade (May)
• EUR: Eurozone Current Account (May)
• WTI: Baker Hughes Oil Rig Count

Sunday July 20

• CNY: China 1- & 5-Y Loan Prime Rate (Jul)
• NZD: New Zealand Inflation Rate (Q2)
• JPY: Japan Upper House Election