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All eyes on US inflation in global markets

This week, global markets will keep an eye on the July inflation data to be announced in the US.

All eyes on US inflation in global markets

This week, global markets will keep an eye on the July inflation data to be announced in the US. Consumer inflation data will be released on Thursday and producer inflation data on Friday.

While global markets started the new week with the complex perception created by the US employment data on Friday, the escalation of tensions in the war between Ukraine and Russia is also having an impact on the markets.

US 10-year bond yield, which decreased by 15 basis points after the below-expected non-farm payrolls data announced on Friday, is trading at 4.06 percent this morning.

Critical inflation data will be announced in the US

According to the Bloomberg survey, the consumer price index in the USA is expected to increase by 0.2 percent monthly and 3.3 percent annually. In the Producer Price Index, a monthly increase of 0.2 percent and an annual increase of 0.7 percent is estimated. US Federal Reserve Governor Michelle Bowman, who made statements at the end of the week before the release of the data, predicted that the Fed may have to increase interest rates further to ensure full price stability.

"The recent decrease we have seen in inflation data has been positive, but I will be looking for consistent signs of a meaningful decrease towards our 2 per cent target," Bowman said.

Non-farm employment data released in the US on Friday pointed to a moderate increase. Fed members Raphael Bostic and Austan Goolsbee stated that the labour market seemed more balanced after this data and that the Fed could act more patiently.


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