Summer lull is slowly setting in the markets, although it does not mean that there are no noteworthy events scheduled to follow. Traders will be offered ECB rate decision next week as well as macro data from US, UK and Canada. Last but not least, Wall Stret earnings season is gathering pace, with reports from Netflix and TSMC scheduled for next week. Be sure to watch EURGBP, USDCAD and US500 in the week ahead!
EURGBP
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Create account Try a demo Download mobile app Download mobile appECB rate decision scheduled for Thursday, 1:15 pm BST is a key event of the week for EUR traders. While ECB cut rates at its previous meeting, it is not expected to follow with another cut in July. Traders will look closely for hints on the timing of next cuts. Money markets are now seeing an over-80% chance of ECB cutting rates at September meeting. EURGBP is a pair to watch as apart from ECB decision, volatility may also be present during release of UK data - CPI inflation (Wednesday, 7:00 am BST), labour market (Thursday, 7:00 am BST) and retail sales (Friday, 7:00 am BST).
USDCAD
US CPI print triggered dovish response in the markets this week, altough it did not last, and now investors' attention turns to other key pieces of US data. Among next week's highlights one can find releases of US retail sales data for June (Tuesday, 1:30 pm BST), US housing market data for June (Wednesday, 1:30 pm BST) or US industrial production reading for June (Wednesday, 2:15 pm BST). USDCAD could be one of the pairs that experience elevated volatility as traders will also be offered Canadian CPI print for June (Tuesday, 1:30 pm BST) and Canadian retail sales reading for May (Friday, 1:30 pm BST).
US500
Wall Street earnings season for Q2 2024 has begun this week with reports from major US banks. While financial institutions will continue to dominate calendar next week as well, earnings stream will start to become more diverse. Among top reports next week, one can find results from BlackRock and Goldman Sachs (Monday), UnitedHealth Group and Morgan Stanley (Tuesday), Johnson & Johnson (Wednesday), Netflix and TSMC on Thursday, as well as American Express and Travelers (Friday).
