There is intense focus on the US CPI data due Wednesday:
Prior to that, though, we get PPI data and comments from Federal Reserve Chair Powell on Tuesday:
- Coming up at 1000 US Eastern time (which is 1400 GMT) Powell participates in a moderated discussion with De Nederlandsche Bank (DNB) President Klaas Knot at annual general meeting of the Foreign Bankers’ Association
Knot is, of course, a member of the European Central Bank Governing Council (policy setting committee at the ECB). I digress.
April PPI is due:
For the PPI headline y/y the range of expectations is 2.1 to 2.3%
For the PPI excluding food and energy y/y (the red highlit data point above) the range is 2.3 to 2.5%
- for the m/m its +0.1 – 0.3%
I’ll pop up a post separately on why being aware of these ranges is important.