It’s the final day of the month and it’s a busy one on the economic calendar with a wave of numbers coming out at the bottom of the hour including:
- July PCE
- Initial jobless claims
- Canadian Q2 current account
- Canadian avg weekly earnings
The PCE reprot is the Fed’s preferred inflation measure and core is expected to tick up to 4.2% from 4.1%. Claims are forecast at 235K ahead of tomorrow’s non-farm payrolls report.