It is a quieter week ahead with only 32 economic stats in focus this week.
Stocks and U.S. equity futures fell Monday and Treasuries edged up on concerns about the possible economic fallout of Covid-19 outbreaks and elevated inflation. Oil slipped after an OPEC+ supply deal.
It is a big week in the U.S. space race as Blue Origin founder Jeff Bezos is set to blast off on Tuesday as part of the aerospace company’s first crewed flight.
In addition, it will be a big week for Elon Musk and Bitcoin as he joins Twitter CEO Jack Dorsey for a discussion about the world’s largest cryptocurrency.
A global rally in equities has paused as investors consider whether price pressures will sap the economic rebound from the pandemic, in part by leading central banks to pare monetary policy support. Investors are also trying to make sense of the decline in Treasury yields. For some, the trend is a signal of cracks in the global recovery as the delta Covid-19 variant forces some nations to impose virus curbs, while for others the bond rally may have gone too far.
The U.K. is due to lift the remaining virus curbs in England. At the same time, Prime Minister Boris Johnson agreed to self-isolate after being exposed to Covid-19, and U.K. virus cases increased the most in the world, signalling the challenge nations face to fully reopen their economies. The pound dipped. JPMorgan Chase, Goldman Sachs, and Deutsche Bank employees in the U.K. are all set to return to the office.
This Week’s High Impact Events
The times below are GMT +3.
Monday 19th July
13.00 – UK – MPC Member Haskel Speaks
Potential instruments to Trade: GBP Crosses.
Tuesday 20th July
04.30 – Australia – Monetary Policy Meeting Minutes
Potential instruments to Trade: AUD Crosses.
Wednesday 21st July
04.30 – Australia – Retail Sales m/m
Potential instruments to Trade: AUD Crosses.
17.30 – US – Crude Oil Inventories
Potential instruments to Trade: USD & CAD Crosses.
Thursday 22nd July
14.45 – Europe – Monetary Policy Statement & Main Refinancing Rate
Potential instruments to Trade: EUR Crosses.
15.30 – Europe – ECB Press Conference
Potential instruments to Trade: EUR Crosses.
15.30 – US – Unemployment Claims
Potential instruments to Trade: USD Crosses.
Friday 23rd July
09.00 – Europe – Retail Sales m/m
Potential instruments to Trade: GBP Crosses.
10.15 – Europe – Flash Manufacturing & Services PMI
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