Federal Reserve updates from the US Appeals Court and Senate have been making headlines this week. In a significant development, the Appeals Court has declined to allow President Trump to remove Federal Reserve Governor Cook. This means that Cook will be able to attend the FOMC’s upcoming meeting on September 16th-17th.

In other Fed-related news, the US Senate voted 48-47 to confirm President Trump’s nominee Miran to join the Fed board. This marks a significant victory for Trump in his efforts to reshape the central bank.

Meanwhile, European bourses opened flat but sentiment dipped slightly, displaying a mostly negative picture. US equity futures are modestly firmer, with NVDA little moved on reports of “lukewarm” demand for its RTX6000D AI chip. The DXY currency index is in the doldrums as the clock ticks down to the FOMC meeting, with GBP barely reacting to an in-line Jobs Report.

In terms of bond markets, USTs are essentially flat into Retail Sales and supply, while Bunds were pressured following a relatively soft German auction. Crude futures have slipped due to reports of the 19th sanctions package being delayed, while XAU has made a fresh ATH.

Looking ahead, there are several key economic data releases scheduled for this week, including US Retail Sales (Aug), Industrial Production (Aug), Import Prices (Aug), Atlanta Fed GDP, Canadian CPI (Aug), and ECB’s Escriva, Supply from the US. These numbers will provide valuable insights into the current state of the economy and could have implications for monetary policy decisions in the coming months.

Overall, these updates from the Federal Reserve and other economic data releases highlight the ongoing efforts to shape the central bank and monitor the health of the global economy. As always, investors will be closely watching these developments and adjusting their strategies accordingly.