Payrolls for May and June were also downwardly revised, combined, slashing 103K people from the workforce, lower than previously reported. Even though the data justifies the Federal Reserve's (Fed) reluctance to increase interest rates to tackle inflation, the Unemployment Rate also ticked lower, from 4.2% to 4.1%. The Richmond Fed President Thomas Barkin said that “jobs data was very consistent with a sector in weak balance.” Source: Prime TerminalTraders will be watching the US Consumer Price Index (CPI) release for July on Wednesday. On Thursday, the Producer Price Index (PPI), a key input to the Fed’s preferred inflation measure, the Core Personal Consumption Expenditures (PCE) Price Index, will be released.