The US-China trade truce is set to expire, but it's likely to be extended as markets remain sensitive to headlines. Nvidia and AMD will allocate 15% of their Chinese revenues to the US government in exchange for export licenses for specific chips. Upcoming US economic data, including CPI and PPI, is crucial, with core inflation anticipated to rise by 0.3% in July. UK unemployment has reached 4.7%, highlighting a weakened labor market. Sterling's response will depend on these evolving economic indicators.
Nvidia and AMD are to hand over 15% of some China revenues to the US government in exchange for export licenses for their chips.
Important US data will be released this week, including CPI and PPI inflation, with core inflation expected to rise 0.3% month-on-month in July.
The closer core inflation gets to 3%, the harder it is for the Fed to ease, as market participants watch for policy implications.
UK unemployment rose to 4.7%, a four-year high, as signs of softness in the labour market continue to impact the economic outlook.
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