Last week, investors were mainly focused on the FOMC minutes and Nonfarm Payrolls data. The FOMC minutes showed that the Fed will likely raise rates by 0.75% at the July meeting. A strong jobs report also boosts the prospect of a 75bp Fed hike. This week, the main focus of investors will be on inflation data in the United States and Germany. Also, this week the central banks of Canada and New Zealand will meet on interest rate decisions. Analysts are predicting interest rate hikes by 0.5% in both cases. Investors should also keep on the start of the US earning period for the second quarter of 2022.
Monday, July 11
On Monday, investors' attention will be focused on the speeches of officials from the central banks of Japan, Great Britain, and the United States. It's a bank holiday in Singapore.
Main events of the day:
- – Japan BoJ Gov Kuroda Speaks, tentative;
- – UK BoE Gov Bailey Speaks at 17:15 (GMT+3);
- - US FOMC Member Williams Speaks at 21:00 (GMT+3).
Tuesday, July 12
The most important Tuesday release for investors will be the economic forecast from the ZEW European Institute which is an essential indicator of Europe's economy health. Analysts expect further declines as EU countries slowly slide into recession.
Main events of the day:
- – Japan Producer Price Index (m/m) at 02:50 (GMT+3);
- – German ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- – Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- – Eurozone EU Economic Forecasts, tentative;
- – UK BoE Gov Bailey Speaks at 20:00 (GMT+3).
Wednesday, July 13
Wednesday will bring various statistics for many countries. The most important release for investors will be Interest Rate Decisions from the central banks of Canada and New Zealand. Analysts are predicting a 0.50% interest rate hike for both central banks. Investors should also focus on the Consumer Price Index in different countries, especially in Germany and the United States. Analysts expect US annual inflation to add another 1%. Also, traders should not miss the US Crude Oil Inventories data, which significantly impacts oil prices.
Main events of the day:
- – New Zealand RBNZ Interest Rate Decision at 05:00 (GMT+3);
- – New Zealand RBNZ Rate Statement at 05:00 (GMT+3);
- – UK GDP (m/m) at 09:00 (GMT+3);
- – UK Industrial Production (m/m) at 09:00 (GMT+3);
- – UK Manufacturing Production (m/m) at 09:00 (GMT+3);
- – Eurozone German Consumer Price Index (m/m) at 09:00 (GMT+3);
- – Eurozone French Consumer Price Index (m/m) at 09:00 (GMT+3);
- – Eurozone Spanish Consumer Price Index (m/m) at 09:00 (GMT+3);
- – Eurozone Industrial Production (m/m) at 12:00 (GMT+3);
- – US Consumer Price Index (m/m) at 15:30 (GMT+3);
- – Canada BoC Interest Rate Decision at 17:00 (GMT+3);
- – Canada BoC Monetary Policy Report at 17:00 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – Canada BoC Press Conference at 18:00 (GMT+3).
Thursday, July 14
The most important Thursday release for investors will be the US Producer Price Index, which displays the level of inflation between productions. Analysts expect the US PPI index to add 0.8%. Investors should also pay attention to the weekly report on the number of jobless claims and speeches by officials from the Federal Reserve.
Main events of the day:
- – Australia Unemployment Rate (m/m) at 04:30 (GMT+3);
- – Japan Industrial Production (m/m) at 07:30 (GMT+3);
- – Switzerland Producer Price Index (m/m) at 09:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US Producer Price Index (m/m) at 15:30 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3);
- – US FOMC Member Waller Speaks at 18:00 (GMT+3).
Friday, July 15
On Friday, there will be a lot of statistics from China, which has a significant impact on Asian markets. Investors should also keep a close eye on US Industrial Production and Retail Sales data in the US and Canada.
Main events of the day:
- – China GDP (q/q) at 05:00 (GMT+3);
- – China Retail Sales (m/m) at 15:30 (GMT+3);
- – China Industrial Production (m/m) at 05:00 (GMT+3);
- – China Unemployment Rate (m/m) at 05:00 (GMT+3);
- – Eurozone Italian Consumer Price Index (m/m) at 11:00 (GMT+3);
- – Canada Retail Sales (m/m) at 15:30 (GMT+3);
- – US Retail Sales (m/m) at 15:30 (GMT+3);
- – US NY Empire State Manufacturing Index (m/m) at 15:30 (GMT+3);
- – US Industrial Production (m/m) at 16:15 (GMT+3);
- – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).
by , 2022.07.11
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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