EUROPEAN SESSIONIn the European session, we only have the final Eurozone CPI report. The final data is almost never market-moving because the markets react more to new information, which is given by the preliminary data. As a reminder, the ECB is expected to keep interest rates steady at the upcoming meeting due to lack of clear second-round effects and the recent bond market woes. Traders expect the next rate hike to come in December. AMERICAN SESSIONIn the American session, we have lots of low-tier releases like the US industrial production and the US Import/Export prices. The industrial production data is correlated with the ISM manufacturing PMI, so there's not much new information it can give to traders. The US import prices are the last input into the PCE calculation. The data won't change anything, though, as the market has already brushed off the hot CPI and PPI reports. The Core PCE M/M is now expected at 0.34% vs 0.25% last month, while the Core PCE Y/Y measure is seen at 3.1% vs 3.0% last month. The rate hike probability for October fell further following the PPI release and it now stands around 12%. The curious part is that we've seen a dovish repricing further out the curve and a significant drop in long-term Treasury yields. This might be an early signal of market's focus shifting to growth concerns. This article was written by Giuseppe Dellamotta at investinglive.com.