• Liberal Democratic Party leadership election in Japan
• Week of central bank meetings in the UK, Japan, and the US
• Week of central bank meetings in the UK, Japan, and the US
As usual, Monday is light in terms of macroeconomic releases. Traders will put their focus on the election of Japan's new Prime Minister with a party room vote expected to begin later in the day. Chief Cabinet Secretary Yoshihide Suga is expected to secure a comfortable victory over his two rivals -- Shigeru Ishiba, a former defense minister, and Fumio Kishida, a former foreign minister. The new party’s leader will almost certainly become next premier, replacing Shinzo Abe.
However, there are many interesting releases scheduled for later part of the week. FOMC meeting is the most important event with all eyes on Chair Powell's press conference for hints on new stimulus measures and details on the new average inflation target. Elsewhere, the BoE and the BoJ will announce their interest rate decision. On the data front, US unemployment claims, industrial production, retail sales, building permits and housing starts will also be in the spotlight. China will release industrial production, retail sales and fixed investment figures.
However, there are many interesting releases scheduled for later part of the week. FOMC meeting is the most important event with all eyes on Chair Powell's press conference for hints on new stimulus measures and details on the new average inflation target. Elsewhere, the BoE and the BoJ will announce their interest rate decision. On the data front, US unemployment claims, industrial production, retail sales, building permits and housing starts will also be in the spotlight. China will release industrial production, retail sales and fixed investment figures.
10:00 am BST – Eurozone Industrial Production. Expected: 4.0%. Previous: 9.1%
09:00 pm BST – Westpac Consumer Sentiment. Previous: 97.2
