It's the final day of the month and it's a busy one on the economic calendar with a wave of numbers coming out at the bottom of the hour including:

  • July PCE
  • Initial jobless claims
  • Canadian Q2 current account
  • Canadian avg weekly earnings

The PCE reprot is the Fed's preferred inflation measure and core is expected to tick up to 4.2% from 4.1%. Claims are forecast at 235K ahead of tomorrow's non-farm payrolls report.