It will be an important week for the UK’s political life, where on Tuesday Conservatives will be announcing a new Prime Minister. Also, the eurozone and the US will release their preliminary manufacturing and services PMIs on Wednesday. The ECB will take centre stage on Thursday, where they will announce their interest rate decision, followed by a press conference from Mario Draghi.
Monday will be a relatively quiet day from the economic data perspective. But on the political front, we could see headlines surrounding the UK Prime Minister announcement, which should take place on Tuesday. Some movement in the British pound could be visible, unless traders and investors will hold on and wait for the election results.
On Tuesday, the only economic data release worth the attention may be the change in the US existing home sales number for the month of June. The expectations are that the figure will come out way less than...
Read the full financial markets weekly outlook on JFD Research.