Inflation on the watch; Trump-Putin meeting and tales from the trade war

Three main topics will focus the market’s attention this week: inflation and interest rates differentials, the trade war and US president comments on commercial partners, and Donald Trump and Vladimir Putin meeting.

First, several countries will release its inflation data with all the implications it could have in central banks’ decision on interest rates. The market will focus on it as they would speculate who will be the next central banker that hike interest rates.

Then, Donald J. Trump said that the Eurozone is an enemy. “I think the European Union is a foe,” the president said concerning trade Russia is a foe in certain respects. China is a foe economically, certainly, they are a foe. But that doesn’t mean they are bad. It doesn’t mean anything. It means that they are competitive.”

Finally, Donald Trump will meet Vladimir Putin this week. The media will focus on every detail and any news will affect price actions. Avoid the noise and focus on the long term.

In the meantime, China reported mixed data.

Events to watch this week:

Monday, July 16

United States – Retail Sales
New Zealand – Consumer Price Index

Tuesday, July 17

Australia – RBA Meeting Minutes
United Kingdom – ILO Unemployment Rate
United Kingdom – Average Earnings Excluding and Including Bonus
United States – Industrial Production

Wednesday, July 18

United Kingdom – Retail Price Index
United Kingdom – Consumer Price Index
Eurozone – Consumer Price Index
United States – Building Permits
United States – Housing Starts

Thursday, July 19

Australia – Unemployment Rate and Employment Report
United Kingdom – Retail Sales
United States – Jobless Claims
United States – Philadelphia Fed Manufacturing Survey
Japan – Consumer Price Index

Friday, July 20

Canada – Retail Sales
Canada – Consumer Price Index
Canada – Bank of Canada Inflation

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