Investors face a dense U.S. economic calendar this week, headlined by July inflation data that could shape expectations for a possible Federal Reserve rate cut as soon as September. The Consumer Price Index is released on Tuesday, with economists surveyed by Bloomberg looking for a 0.2% monthly gain and a year-on-year rate edging up to 2.8%. Producer prices follow on Thursday, while Friday brings the July retail-sales print and the University of Michigan’s preliminary August consumer-sentiment gauge. Policy commentary will be plentiful, with Richmond Fed President Thomas Barkin speaking twice and Chicago’s Austan Goolsbee and Atlanta’s Raphael Bostic appearing on Wednesday. Their remarks will be parsed for any shift in tone after the latest jobs report showed softer labour-market momentum. Global events add to the mix. OPEC issues its monthly oil-market report on Tuesday, and a Kremlin-confirmed summit between Russian President Vladimir Putin and former U.S. President Donald Trump is tentatively planned for Friday in Alaska, though Washington has yet to formalise details. Traders are positioning for heightened volatility across equities, bonds and energy markets as the week unfolds.