Key focus this week will be a meeting of the Bank of Canada on Wednesday, as markets will monitor whether there will be a change in tone towards normalization of monetary policy and eventually raise rates. Other highlights include macroeconomic data.
On Monday, July 10, data on production and consumer inflation in China was released. The consumer price index in China rose by 1.5% yoy in June, reported the National Statistics Office. The index of producer prices even rose by 5.5% compared to the same period last year, according to the service. Despite widespread concerns about international trade Wan said that China is facing greater economic risks internally. Beijing authorities aim to achieve consumer inflation of 3% this year – unchanged from 2016.
Today, July 11, will be published data on industrial production in Italy.
The governor of the US Federal Reserve Leyl Breynard will speak in New York.
On the Wednesday, July 12, there will be inflation data for production in Japan.
In Britain report will be published on the labor market, which will have data on wage growth, unemployment and applied for unemployment benefits.
Eurostat publishes data on industrial production in the eurozone.
Meet the Canadian central bank. Economists expected to give more details about his plans for the normalization of monetary policy.
Fed Chairman Dzhanet Yelan will answer questions from Congress regarding the six-month report on monetary policy. It will continue on Thursday.
Energy Information Administration publishes its regular weekly report on oil reserves in the US last week.
On Thursday, July 13, is expected data on the trade balance of China.
In Switzerland will report on producer prices.
The Bank of England published its report on credit conditions.
The US is expected to report applications for unemployment benefits.
Charles Evans , who was Fed chairman for Chicago, will speak.
On the Friday, July 14, there will be data on the trade balance in the eurozone.
In the United States will be published inflation report, retail sales and industrial production.
It is expected that Robert Kaplan, president of the Dallas Fed, will speak before the Conference on the Federal Reserve and Monetary Policy.