The main US data releases for the week ahead are the 1st advance estimate of the US GDP for Q2CY24 and the PCE data. We also have S&P PMIs, existing home sales, new home sales and durable goods orders. After the strong June retail sales data, we can expect the Q2 CY24 GDP to come around 2% annualised up from 1.4% in Q1CY24. We expect the core PCE to have risen 0.1% (rounded off from .14) MoM in June for a second straight month.
