US inflation data important to watch in coming week

The most important data point to watch in the coming week would be CPI. Inflation numbers are released across a number of regions, including China, the Eurozone and the US.

The new trading week starts quietly as there are no tier one economic data releases on Monday. Also it is a holiday in Japan, the US and Canada.

On Tuesday, business confidence data are released in Australia, while Japan sees the publication of consumer confidence numbers. Trade data out of China would be important to watch, as concerns grow over the health of the world’s second largest economy.

Later in the day, German inflation will be issued in Germany and also in the UK.

In the US, the latest NFIP Business Optimism Index is issued.

On Wednesday, the National Australia Bank publishes latest consumer sentiment data.

Eurostat publishes industrial production data for the Euro zone.

One of the highlights of the week will be UK labour market data which updated by the Office for National Statistics. July’s jobs report showed that the unemployment rate was at its joint-lowest since the financial crisis, with wages rising 2.9% in the latest three-month period (steepest increase since February 2009).

From the US, retail sales numbers and business inventory data are released on Wednesday.

On Thursday focus will be on Australia’s unemployment report.

Industrial output figures are meanwhile released in Japan.

In the US, consumer price information, initial jobless claims numbers and the Philly Fed Business Index are released.

US CPI are are very important as the Fed closely looks at inflation data in the US when making its decision to raise interest rates. US consumer prices rose a mere 0.2% in the 12 months through to August, and the Fed has lowered its inflation forecast for the year further. The most recent estimate of 0.4% inflation is well below the Fed’s target of 2% and is clearly an argument against a rate hike.

On Friday, inflation data are out in the Euro zone, as well as trade data.

The US sees the release of industrial production numbers and the preliminary University of Michigan consumer sentiment report.

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