This week's major macro events: CPI and PPI data coming, 'pro-crypto' Federal Reserve governor may take office

Traders, pay attention! The market is focusing on these 'performance data' this week:

Tuesday:

The U.S. releases July CPI (Consumer Price Index) — Let's see if inflation has cooled.

Federal Reserve bigwig Barkin (with voting rights in 2027) comes out to speak, let's hear what he says about the economy.

Thursday:

Two more Federal Reserve bigwigs speak: Goolsbee talks about monetary policy, Bostic discusses economic outlook.

Release of August PPI (Producer Price Index) — another indicator of inflation.

Also, the number of initial jobless claims from last week — let's see how tight the job market is.

Friday:

A barrage of data: July retail sales (are people shopping actively?), July import prices, August preliminary consumer confidence (how are people feeling?), and expectations for inflation over the next year.

There's also a nomination worth noting:

Trump has nominated Stephen Miran to be a Federal Reserve governor (serving until early 2026). This guy has previously worked in a position where he clearly supported cryptocurrencies, believing it can stimulate the economy, drive innovation, and combat inflation, which aligns with Trump's ideas. However, this still needs Senate approval.

This week, everyone is mainly focused on the CPI and PPI on Tuesday and Thursday, as well as retail sales and consumer confidence on Friday. If these 'report cards' show that prices are rising more aggressively than expected, it could lower the expectations for interest rate cuts.