Following a rate cut last week which acted as an insurance for a potential further decline in economic activity as well as an effort to bring inflation up to target levels, we now have a relatively quiet economic data week. With Markit PMIs and ISM Non-Manufacturing data already out, the upcoming economic data releases include: JOLTS Job Openings, MBA Mortgage Applications, Consumer Credit, Initial Jobless Claims, Continuing Claims, Wholesale Sales and Inventories Data, and PPI data.

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