🚨 US PPI drops in 3 hours (8:30 AM ET) August forecast: 5.3% YoY (prev 4.7%) Core expected: 4.6% The setup: 🔹 Hotter than 5.3% 👉 hike odds rise, risk assets under pressure. 🔹 In line👉choppy / slight risk-off. 🔹 Cooler than 5.3%👉hike odds fade, risk bid. Last print before tomorrow’s CPI and the Sept 16 Fed decision.