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Markets are eyeing upcoming readings on inflation and the consumer following a volatile run last week, spurred by a disappointing jobs report that showed bad news is, well, bad news again.”Since the release of the July employment report, financial markets have been focused on the labor market and the implications for Federal Reserve policy, but the other side of the central bank’s dual mandate will come back into view during the week ahead,” Oxford Economics lead economist Nancy Vanden Houten wrote in a note to clients on Friday.The July Consumer Price Index (CPI) will serve as the next big test for inflation (and for markets).”We expect the July CPI to be a touch less friendly than the weaker-than-expected June readings, but don’t think the data will shake the Fed’s confidence that inflation is moving in the right dire …
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