US inflation data due on Friday - upside risks ...Middle East

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US inflation data due on Friday - upside risks
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BMO on the data from the US on Thursday inflation data for Q2. In brief:Second quarter real GDP surprised on the upside at 2.8%while inflation slowed during Q2 to 2.9%, it was modestly above expectations for a 2.7% print. As a result, investors revisited expectations for June’s core-PCE figures that will be released Friday morning, and although the consensus remains +0.2%, the assumption is that depending on the trajectory of revisions in April/May, there could be upside risks with which to contend as the market absorbs the latest installment of the Fed’s favored inflation measure.In short, growth remains surprisingly strong and realized inflation might be edging back toward the Fed’

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