Housekeeping: Good Morning
Featured Analysis:
Soc Gen Says: “China Is Buying Gold Again. Are You?”
Societe Generale says China is buying the dip as central banks, ETF investors and a weakening dollar rebuild the case for higher gold prices.
In Other News:
Data on Deck: CPI
MONDAY, SEPTEMBER 7
Labor Day, US markets closed
TUESDAY, SEPTEMBER 8
6a NFIB Index of Small Business Optimism (Aug.) (prev 99.8)
3p Consumer Credit (Jul.) (prev 14.2B)
WEDNESDAY, SEPTEMBER 9
No major US releases
THURSDAY, SEPTEMBER 10
Today’s August PPI consensus, due at 8:30 a.m. ET, is:
Headline PPI: +0.4% MoM, +5.3% YoY
Core PPI: +0.3% MoM, +4.6% YoY
PPI excluding food, energy and trade: +0.3% MoM, +4.4% YoY
FRIDAY, SEPTEMBER 11
Today’s August CPI consensus, due at 8:30 a.m. ET:
Headline CPI: +0.4% month-over-month; +3.4% year-over-year
Core CPI: +0.2% month-over-month; +2.4% year-over-year
Gasoline is expected to drive the headline increase, while core inflation should ease slightly. A core reading above 0.2% would be the key hawkish surprise and could strengthen expectations for a September Fed rate hike.
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