IDEA FOR NEXT WEEK.

With inflation data now in the rear-view, attention shifts to other critical areas of the US economy as we move towards the end of the week. Key reports, including July retail sales figures, the latest jobless claims, and manufacturing indices from New York and Philadelphia, are due for release today. These reports are expected to offer valuable insights into the labour market, consumer health, and the manufacturing sector. Should these data points also reveal weakness, it could further cement expectations for rate cuts, potentially leading to a drop in bond yields and negatively impacting the dollar outlook. This, in turn, could boost the appeal of major forex pairs, such as the AUD/USD, and increase the attractiveness of precious metals too.