This week, market participants are likely to be sitting on the edge of their seats in anticipation of the G20 summit, where US President Trump and his Chinese counterpart Xi Jinping are likely to meet and discuss trade. With regards to the other events of the week, we have an RBNZ gathering. Following the Bank’s decision to cut rates in May, we will dig into the statement for clues as to whether another cut in the months to come is looming. Eurozone’s preliminary CPIs for June, as well as the US core PCE index for May, are also due to be released.
Monday appears to be a relatively light day in terms of economic events and indicators, with the only release worth mentioning being the German Ifo survey for June. Expectations are for the current assessment index to have slid slightly, to 100.3 from 100.6, while the business expectations one is forecast to have declined to 94.6 from 95.3. The business climate index is forecast to have slid to 97.4 from 97.9. The case for lower Ifo indices is supported by declines in both the current conditions and economic sentiment ZEW indices for the month.
On Tuesday, during the Asian morning, New Zealand’s trade data for May are scheduled to be released, and expectations are for the nation’s trade surplus to have narrowed somewhat. Later in the day, the...
Read the full financial markets weekly outlook on JFD Research.