China Aluminum Stocks Fall After Continuous Growth, SMM Says

The US July PPI data showed that inflationary pressures eased further: headline PPI was flat MoM, with the YoY increase pulling back to 4.7% from 5.5% in June; core PPI rose 0.2% MoM, below expectations of 0.3%, and the YoY increase fell to 4.2%. As a result, traders further lowered expectations for US Fed interest rate hikes in September.

Divisions within the US Fed over the next direction of monetary policy have become increasingly public. Cleveland Fed President Hammack reiterated a rate-hike stance, arguing that action is needed now, and warned of financial stability risks such as leverage in U.S. Treasuries and an AI bubble. Richmond Fed President Barkin, by contrast, advocated keeping interest rates unchanged, noting that inflation has mainly stemmed from temporary shocks, while also warning that AI investment and supply-chain issues could generate persistent price pressures.

Les données publiées par le département du Commerce des États-Unis ont montré que les ventes au détail ont reculé de 0,6 % sur un mois en juillet, en deçà des attentes du marché qui tablaient sur une hausse de 0,1 %, et enregistrant la plus forte baisse depuis mai de l’an dernier. Cette contraction inattendue a davantage assombri les perspectives de relèvement des taux de la Réserve fédérale américaine.