The week ahead – All Eyes on Inflation Data

Key Upcoming Events: 

• US Retails Sales 15:30 (GMT+3) Tuesday 16^th July
• UK Inflation Rate 09:00 (GMT+3) Wednesday 17^th July
• EU Interest Rate Decision 15:15 (GMT+3) Thursday 18^th July

Key Inflation Data from Major Economies: Critical inflation reports from the UK, Canada, and New Zealand will be closely watched. The UK’s core CPI could influence BoE August rate decisions, Canada’s CPI may impact expectations for Bank of Canada rate cuts, and New Zealand’s CPI will test the Reserve Bank of New Zealand’s dovish stance.

US Retail Sales: US retail sales data for June, set for release on Tuesday, is expected to indicate cooling consumer sentiment. A significant rise or decline could influence the dollar’s trajectory and impact market expectations for future Fed rate moves.

ECB Interest Rate Decision: The ECB is expected to keep interest rates unchanged after last month’s 25 basis points reduction. However, rising inflation and wage growth will be key considerations for future policy direction.

Australian Employment Report: Australia’s labour market report will be pivotal. Strong employment figures could increase the likelihood of another rate hike by the Reserve Bank of Australia, impacting AUD/USD and related currency pairs.

This week the markets will be closely following economic data & earnings reports such as:

Monday:

• US Fed Chair Powell Speech
• Earnings Reports:
  • The Goldman Sachs Group, Inc.
  • BlackRock, Inc.

Tuesday:

• EU ZEW Economic Sentiment Index JUL
• CA Inflation Rate JUN
• US Retail Sales JUN
• Earnings Reports:
  • UnitedHealth Group Incorporated
  • Bank of America Corporation
  • Morgan Stanley
  • The Charles Schwab Corporation

Wednesday:

• GB Inflation Rate JUN
• EU Inflation Rate Final JUN
• US Building Permits Prel JUN   
• Earnings Reports:
  • ASML Holding N.V.
  • Johnson & Johnson

Thursday:

• AU Unemployment Rate JUN
• GB Unemployment Rate MAY
• EU ECB Interest Rate Decision
• Earnings Reports:
  • Taiwan Semiconductor Manufacturing Company Limited
  • Netflix, Inc.

Friday:

• NZ Inflation Rate Q2
• JP Inflation Rate JUN
• GB Retail Sales JUN
• CA Retail Sales MAY
• Earnings Reports:
  • American Express Company

• 0
• 0