This week, the central bank torch will be passed to the BoE, the SNB and the Norges Bank. All three Banks are forecast to keep their policies unchanged and thus attention is likely to fall on any signals with regards to their future plans. In the Eurozone, investors will closely monitor the preliminary June PMIs for signs of whether the Euro area economic slowdown continued or not. As for the energy market, the main event is likely to be the gathering between OPEC and major non-OPEC oil ministers in Vienna.
On Monday, the calendar appears very light in terms of economic indicators. That said, the fifth annual “ECB Forum on Central Banking” begins, and it will last until Wednesday. The subject is “Price and wage-setting in advanced economies”. The highlight is likely to be on Wednesday, when ECB President Mario Draghi, BoJ Governor Haruhiko Kuroda and Fed Chair Jerome Powell will participate in a panel discussion.
On Tuesday, during the Asian morning we have the minutes from the latest RBA policy meeting. The latest meetings of this Bank were proven non-events, and the last one was no exception. At that meeting, policymakers decided to keep interest rates unchanged and made very little changes to the accompanying statement...
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