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Analysts at TD Securities suggest that the US July import prices will be scrutinized for any distortions from recently imposed China tariffs ($34bn went into effect in early July).

Key Quotes

“Although the market consensus is for no change in monthly prices, which would see import price inflation edge higher to 4.5% y/y on base effects. Meanwhile, the NY Fed is scheduled to release its Q2 Household Debt and Credit Report at 11:00 ET.”