Group 1 - The core viewpoint indicates that while the July CPI year-on-year rate in the US was below expectations, the core CPI reached its highest level since February, suggesting inflationary pressures remain significant [1][2] - The July PPI year-on-year rate significantly exceeded market expectations, indicating stronger-than-anticipated producer price inflation, which could influence future monetary policy decisions [2] - The market is largely anticipating a 25 basis point rate cut by the Federal Reserve in September, influenced by the recent economic data [1][2] Group 2 - Key upcoming events include the trilateral talks between the US, Russia, and Ukraine on August 18, and the release of the Federal Reserve's monetary policy meeting minutes on August 21 [3] - The Jackson Hole global central banking conference will take place from August 20 to August 23, with Fed Chair Powell scheduled to speak on August 22 [3] - Economic indicators to watch include initial jobless claims data for the week ending August 16, which is expected to show a slight decrease in claims [3]

金十数据7月17日讯，金价周四下跌，因在美国总统特朗普表示"极不可能"解除美联储主席鲍威尔的职 务后，美元上涨且市场紧张情绪缓解，令金价承压。Reliance Securities高级商品分析师 Jigar Trivedi表 示："由于有关美联储主席职位的不确定性有所缓解，随着美元重拾涨势，黄金下跌至3330美元/盎司附 近。"此外，昨日数据显示，美国6月生产者物价指数(PPI)意外持平，因为进口关税导致的商品成本上 升，被服务需求的疲软所抵消。Trivedi称："6月份美国PPI读数持平，表明批发价格稳定，关税对经济 的影响可能小于最初担心的程度。" 分析师："解雇鲍威尔"风波暂缓 金价有所回落 ...

Core Viewpoint - The May PPI data in the U.S. showed a mild impact from costs of goods and services, with core PPI figures falling short of expectations, indicating potential price pressures in the second half of the year due to high tariffs and corporate profit margin concerns [1] Group 1: PPI Data Insights - The May PPI data revealed an expansion in profit margins for wholesalers and retailers, particularly in the automotive and machinery sectors, following a decline in April [1] - Year-to-date profit margins have shown fluctuations, highlighting the uncertainty of trade policies on prices and demand [1] Group 2: Economic Indicators - Analysts are closely monitoring the PPI report as certain components are used to calculate the Fed's preferred inflation measure, the PCE data [1] - Areas of weakness in May included declines in airfare prices, investment management fees, and moderate healthcare costs [1] - The PCE report is expected to be released later this month, which will provide further insights into inflation trends [1]

Group 1 - The article highlights the upcoming release of the US Producer Price Index (PPI) for May and the initial jobless claims for the week of June 7 [1]