This week, we have only one central bank deciding on monetary policy, the Bank of Canada. Given that a rate hike is widely anticipated, if this is the case, the focus will quickly turn to the accompanying statement, the updated economic projections, and the press conference by Governor Poloz. The minutes from the latest ECB meeting and the US CPIs for June will also be in focus.
Monday appears to be a relatively light day with no major economic indicators on the agenda.
On Tuesday, during the Asian morning, China’s CPI and PPI for June are due to be released. The CPI rate is anticipated to have ticked up to +1.9% yoy from +1.8% in May, while the PPI is expected to have accelerated to +4.5% yoy from +4.1%. Australia’s NAB business survey for the same month is also coming out.
During the European morning, we have Norway’s CPI data for June. Expectations are for the headline rate to have risen to +2.4% yoy from +2.3%, while the core rate is forecast to have ticked down to +1.1% yoy from +1.2%. At its latest meeting, the Norges Bank kept...
The UK NIESR GDP estimate for the three months to June is coming out as well. At their latest policy meeting, BoE policymakers noted that the data released since the May meeting were consistent with their view that the slowdown in Q1 was temporary and they expected a +0.4% GDP growth in Q2. Thus, investors are likely to pay extra...
Read the full financial markets weekly outlook on JFD Research.