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All eyes are on inflation this week as a heavy slate of data hits the global tape. Senior Analyst Alex Thorne breaks down the institutional expectations from the beach desk:
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- Existing Home Sales (Tue): The National Association of Realtors is expected to show sales slowing to an annualized 4.10 million units due to high mortgage rates.
- CPI Inflation (Wed): The Bureau of Labor Statistics is projected to report a sticky 0.3 percent monthly core increase, keeping annual inflation near 3.4 percent.
- PPI Inflation (Thu): The Bureau of Labor Statistics return is expected to show a flat headline wholesale print, heavily insulated by cooling crude oil costs.
- OPEC Monthly Report (Thu): The cartel is anticipated to focus entirely on global demand trends to justify extending its voluntary 2.2 million barrel per day supply cuts.
- MI Inflation Expectations (Fri): Preliminary consumer data from the University of Michigan is expected to show near-term inflation expectations holding stubborn at 3.3 percent.
- MI Consumer Sentiment (Fri): The preliminary June confidence reading is projected to stabilize near 69.5 as retail price pressures continue to strain household budgets.
Manage your risk parameters with total discipline this week, protect your principal, and remember never to fight dominant market momentum
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