It’s been a rather uneventful summer for the markets lately, with this week starting off on a quiet note that is typical for this time of year. The economic calendar for today is looking pretty empty in European trading, which means we can expect a slower session ahead.
Yesterday, we saw a lot of movement in equities on Wall Street, especially in the tech sector where shares bounced back after a rough patch last week. However, today we have some key earnings releases to look out for from Alphabet and Tesla after the market closes, so it’s something to keep an eye on.
The USD/JPY pair saw a dip yesterday and has mostly held onto those losses, while currencies like the Australian and New Zealand dollar are weaker due to a decline in the yuan this week. Other major currencies haven’t shown much movement yet, but we can expect things to pick up in the coming days.
Looking ahead, PMI data will be in focus tomorrow, along with the Bank of Canada’s policy decision. Later in the week, we will have the US Q2 GDP numbers and weekly jobless claims on Thursday. Finally, we’ll end the week with the US PCE price index on Friday.
Overall, while today may be a bit slow in terms of economic releases, there are plenty of events lined up for the rest of the week that could shake up the markets. It’s always important to stay informed and be prepared for any surprises that may come our way.
