The upcoming week is filled with various economic events that could impact the global markets. Here is a breakdown of the key events to watch out for:
French Election (Sun): The second round of the French Legislative Election will provide insight into the political landscape in France. Exit polls and results will be available after the polls close.
BoJ Bond Meeting (Tue): The Bank of Japan will hold a bond meeting to discuss tapering plans. Participants have suggested trimming bond purchases in stages to enhance market liquidity.
Powell Testimony (Tue, Wed): Fed Chair Powell will testify before the Senate Banking Committee and House Financial Services Committee. He is expected to discuss inflation trends and the possibility of policy rate adjustments.
NATO Summit (Tue-Thu): The NATO Summit will mark 75 years of the alliance and focus on deterrence, defence, and partnerships. Funding for Ukrainian military aid will also be discussed.
RBNZ Announcement (Wed): The Reserve Bank of New Zealand will conduct a Monetary Policy Review. The central bank is likely to maintain the Official Cash Rate, with a small probability of a rate cut.
Chinese Inflation (Wed): Chinese CPI and PPI data will be released, with expectations of an acceleration in CPI. Weak domestic demand may require more stimulus measures from Beijing.
Norwegian CPI (Wed): May’s CPI data came in below expectations, and June’s data will be closely watched for any impact on the Norges Bank’s policy decisions.
UK GDP Estimate (Thu): Expectations are for GDP growth to increase in June, driven by manufacturing and retail sales. The release will provide insights into the UK’s economic performance.
US CPI (Thu): US CPI data is expected to show a slight increase in June, with core CPI rising as well. Fed Chair Powell’s recent remarks on inflation trends will also be in focus.
US Corporate Earnings (Fri): Q2 bank earnings will kick off with JPMorgan, Wells Fargo, and Citigroup reporting. Analysts expect modest EPS growth, with a focus on net interest income and margins.
Overall, these events will shape market sentiment and provide valuable insights into the global economic landscape. Stay tuned for updates and analysis on how these events may impact your investments.