Inflation will remain in focus this week with investors set to listen closely to comments from New York Federal Reserve Bank President John Williams on Monday, as well as key inflationary data throughout the week, such as the core CPI.
Powell will testify before the Senate Banking Committee on Wednesday and Thursday, with his testimonies to be scrutinized for any clues on a timeline for asset tapering. Investors also await the U.S. core consumer price index (CPI) for June, due on Tuesday, and the producer price index due later this week.
The big banks will also kick off the earnings season and space stocks may be active after Richard Branson’s historic suborbital spaceflight.
This as the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite will all begin the week at record highs.
Asian shares enjoyed a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
China releases figures this week on economic growth, trade, retail sales, and industrial output amid concerns they could underwhelm given the sudden easing in policy last week.
In Europe, the European Central Bank will update its guidance on the next monetary policy steps in ten days, President Christine Lagarde said earlier in the day. She also hinted that a fresh policy could be introduced in 2022 in support of the European economy.
This Week’s High Impact Events
The times below are GMT +3.
Monday 12th July
20.01 – US – 10-Year Bond Auction
Potential instruments to Trade: USD Crosses.
Tuesday 13th July
15.30 – US – CPI m/m & Core CPI m/m
Potential instruments to Trade: USD Crosses.
20.01 – US – 30-Year Bond Auction
Potential instruments to Trade: USD Crosses.
Wednesday 14th July
05.00 – New Zealand – RBNZ Rate Statement & Official Cash Rate
Advertencia de riesgo: Nuestros productos se comercializan con margen y conllevan un alto nivel de riesgo y es posible que pueda perder todo su capital. Es posible que estos productos no sean adecuados para todos y debe asegurarse de que comprende los riesgos que involucran. Declaración de Riesgos.
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