Global macro overview for 14/08/2015:
The important data from the US for all the inflation observers is due to be released at 12:30 GMT today. The PPI (Producer Price Index) for July is expected to be at the levels of 0.1% m/m and -0.9% y/y and this forecast is lower than the prior month's release that was at the levels of 0.4% m/m and -0.7% y/y. Any reading in line or even lower expectations might be the first sign of rising inflationary concerns about the Fed inflation target of 2% before any rate hike.
The USD/JPY pair might shoot up if the data is better than expected and break out above the important resistance at the level of 125.84.