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The Week Ahead: 24th – 28th July 2023

Overview for the Week Ahead

This week will be dominated by central bank meetings, with the Federal Reserve and the European Central Bank both poised to deliver rate hikes, while the Bank of Japan stands pat.

With the Fed all but certain to raise interest rates again at the conclusion of its latest policy setting meeting on Wednesday, investors are focusing their attention on whether this is likely to be the final hike of its tightening cycle.

The ECB is widely expected to deliver another 25-basis point rate hike at its upcoming meeting on Thursday, so all eyes are on the central bank’s plans for September, with markets divided on whether there will be another hike or a pause.

Friday’s monetary policy decision by the BoJ will be keenly anticipated amid ongoing speculation that policymakers could adjust their ultra-loose monetary stance amid elevated price pressures.

Oil prices rose nearly 2% on Friday to notch up a fourth consecutive weekly gain, buoyed by growing evidence of supply shortages in the coming months and rising tensions between Russia and Ukraine that could further hit supplies.

Have your trading charts ready for a very busy week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 24^th July

• 10.15 Onwards – Europe – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: EUR Crosses. 

• 11.30 – UK – Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: GBP Crosses. 

• 16.45 – US– Flash Manufacturing & Flash Services PMI

Potential instruments to Trade: USD Crosses. 

Tuesday 25^th July

• 11.00 – Europe – German ifo Business Climate

Potential instruments to Trade: EUR Crosses. 

• 17.00 – US – CB Consumer Confidence

Potential instruments to Trade: USD Crosses. 

Wednesday 26^th July

• 04.30 – Australia– CPI q/q, CPI y/y

Potential instruments to Trade: AUD Crosses. 

• 17.00 – US – New Home Sales

Potential instruments to Trade: USD Crosses. 

• 21.00 – US – FOMC Statement, Federal Funds Rate,

Potential instruments to Trade: USD Crosses. 

• 21.30 – US – FOMC Press Conference

Potential instruments to Trade: USD Crosses. 

Thursday 27^th July

• 15.15 – Europe – Main Refinancing Rate, Monetary Policy Statement

Potential instruments to Trade: EUR Crosses. 

• 15.30 – US – Unemployment Claims, Advance GDP q/q

Potential instruments to Trade: USD Crosses. 

• 15.45 – Europe – ECB Press Conference

Potential instruments to Trade: EUR Crosses. 

Friday 28^th July

• Tentative – Japan – BoJ Outlook Report, Monetary Policy Statement, BoJ Policy Rate, BoJ Press Conference

Potential instruments to Trade: JPY Crosses. 

• All-Day – Europe – German Prelim CPI m/m

Potential instruments to Trade: EUR Crosses. 

• 15.30 – Canada – GDP m/m

Potential instruments to Trade: CAD Crosses. 

• 15.30 – US – Core PCE Price Index m/m, Employment Cost Index q/q

Potential instruments to Trade: USD Crosses. 

• 17.00 – US – Revised UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038].

To find out more about Errante, visit https://errante.io/.

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