The Week Ahead: 11th – 15th July 2022

Overview for the Week Ahead

Inflation is still dominating the markets.  In May, inflation in the U.S. touched a fresh four-decade high, leading a majority of Americans to see rising consumer prices as the most important issue facing the country today.

U.S. CPI data is due Wednesday and markets would likely interpret a high reading as a sign the U.S. Federal Reserve would need to raise rates even more aggressively to combat inflation.

With inflation rampant across much of the world, rate hikes are also expected this week from the Reserve Bank of New Zealand on Tuesday and the Bank of Canada on Thursday.

Nations and economic zones around the world are all battling rising prices after the COVID-19 pandemic threw global supply chains into chaos, and the war in Ukraine pushed food and fuel costs to new heights.

French Economy and Finance Minister Bruno Le Maire spoke over the weekend, waring that there is a strong chance that Moscow will totally halt gas supplies to Europe.

Energy concerns meant the euro was struggling against more than just the dollar and in early trade Monday was at 0.85 British pence and 139 yen, just above last Friday’s levels when it hit its lowest since late May against both currencies.

The other main economic event this week is Chinese second-quarter GDP on Friday, with investors watching for signs of how hard the economy was hit by COVID-19 lockdowns.

For the UK this week, the focus will be on the Conservative party’s choice of their next leader and prime minister, and we will see how this will affect the GBP after a volatile time last week.

This Week’s High Impact Events

The times below are GMT +3.

Monday 11th July            

  • 17.15 – UK – BOE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses.

Tuesday 12th July            

  • Tentative – New Zealand – RBNZ Statement of Intent

Potential instruments to Trade: NZD Crosses.

  • Tentative – Europe – EU Economic Forecasts

Potential instruments to Trade: EUR Crosses.

  • 20.00 – UK – BOE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses.

Wednesday 13th July

  • 05.00 – New Zealand – Official Cash Rate & RBNZ Rate Statement

Potential instruments to Trade: NZD Crosses.

  • 09.00 – UK – GDP m/m

Potential instruments to Trade: GBP Crosses.

  • 15.30 – US – CPI m/m & Core CPI m/m

Potential instruments to Trade: USD Crosses. 

  • 17.00 – Canada – BOC Monetary Policy Report, BOC Rate Statement, & Overnight Rate

Potential instruments to Trade: CAD Crosses. 

  • 18.00 – Canada – BOC Press Conference

Potential instruments to Trade: CAD Crosses. 

Thursday 14th July

  • 04.30 – Australia – Employment Change & Unemployment Rate

Potential instruments to Trade: AUD Crosses. 

  • 15.30 – US – PPI, Core PPI, & Unemployment Claims

Potential instruments to Trade: USD Crosses. 

  • 18.00 – US – FOMC Member Waller Speaks

Potential instruments to Trade: USD Crosses. 

Friday 15th July

  • 05.00 – China – GDP q/y

Potential instruments to Trade: CNY Crosses.

  • 15.30 – US – Core Retail Sales m/m, Retail Sales m/m, & Empire State Manufacturing Index

Potential instruments to Trade: USD Crosses.

  • 17.00 – US – Prelim UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

For more information –

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