Financial and Commodity Previews and Analysis

Key news today includes: (1) Jul CPI (expected +0.2% m/m and +2.9% y/y, Jun +0.1% m/m and +2.9% y/y) and Jul CPI ex food & energy (expected +0.2% m/m and +2.3% y/y, Jun +0.2% m/m and +2.3% y/y), (2) USDA Aug WASDE crop production, (3) Jul monthly budget statement (expected -$76.0 billion, Jun -$74.9 billion).