JPM's Daniel Silver said the US.......>

US DATA REACT: JPM's Daniel Silver said the US core PCE price index "increased

0.089% samr in July and was up 1.41% oya. These results were close to

expectations (although a few hundredths above our forecast) and the CPI had

already signaled that July was another month with weak core inflation. But the

sharp slowing in core PCE inflation is still noteworthy:  since February, the

year-ago rate in the core index has declined about 0.5%-pts. The headline PCE

price index also came out close to expectations in July, increasing 0.1% samr

(1.4% oya)."

- He added that "on the consumption front, real spending increased only 0.2% in

July but there were upward revisions to the data reported for the prior couple

of months. On net, the recent data came out a touch softer than we had

expected."