The latest U.S. consumer price inflation update confirmed the ongoing trend of rising housing costs and well-entrenched service inflation, signaling a tough road ahead for policymakers. The European Central Bank is expected to lower its reference rate on Thursday. China and Japan indexes are likely to test this year's lows in the coming weeks.
U.S. job openings shrank in July, sending a second signal in as many days of a possible economic slowdown. The U.S. trade deficit expanded in July after imports rose faster than exports. The economic data in Europe also confirmed weakening economic activities, and VW raised the prospect of closing plants in negotiations with the workers union.