纽约期银日内跌超2.00%，现报64.56美元/盎司。

USGS reports a magnitude-5.0 earthquake 16 km west of San José del Palmar, Colombia.

Vanguard analyst Hicklin expects US July headline CPI +0.1% MoM, +3.3% YoY. The print should be relatively mild as oil declines and stabilization in core goods and housing weigh on inflation. Core goods inflation is expected to be flat and remains on a multi-year disinflationary path after prior volatile re-pricing; stable housing should help keep core inflation lower. By contrast, wage-driven persistence is keeping ‘supercore’ inflation (core services ex-housing) stubborn: that category was flat MoM in June but still +3.2% YoY. Hicklin warns upside price pressure persists — especially with wages growing ~3.5% despite high productivity — and he sees no sign yet of a material easing in core services inflation’s trajectory.