Economic calendar: will super week meet markets' expectations? Fed, BoJ and BoE decisions, US BigTech earnings 🔎

Financial markets are opening in an upbeat mood at the start of a very important week in which we will learn, among other things, interest rate decisions from the Fed, BoE and BoJ. Stock market investors will not be bored either, as they will see quarterly results from BigTechs, including from Amazon, Meta, Apple and Microsoft.

Many investors may speculate that the current week could shape sentiment for weeks to come. At the Fed decision on Wednesday, inflation is expected to be confirmed to stabilize and the first interest rate cuts are expected at the September meeting. In the Japanese market, on the other hand, investors expect the BoJ to present a detailed quantitative tightening plan after years of massive easing. Investors are also pricing in a 30% probability of a 10 basis point hike.

The central Bank of England will announce its next decision on Thursday. The BoE is currently holding interest rates at their highest level in 16 years at 5.25% since August last year, and most economists expect the start of a cycle of 25 basis point cuts at Thursday's meeting. 

Detailed calendar of the week:

29 July: Monday 

• 01:00 pm BST - UK, retail sales for July
• 03:30 pm BST - USA, Dallas Fed index for July

30 July: Tuesday

• 08:00 am BST - Spain, CPI inflation and GDP for Q2
• 09:00 / 11:00 am BST - Germany / Eurozone, GDP for Q2 
• 10:00 am BST - Germany, CPI inflation for July
• 03:00 pm BST - USA, Conference Board index (June) / JOLTS for July
• 09:40 pm BST - USA, Change in oil inventories according to API
• 11:00 pm BST - Japan, BoJ decision

31 July: Wednesday

• 00:50 am BST - Japan, industrial production and retail sales for June 
• 02:30 am BST - China, manufacturing and services PMIs for July
• 02:30 am BST - Australia, CPI inflation for Q2
• 09:00 am BST - Poland, CPI inflation for July
• 01:15 pm BST - USA, ADP report for July
• 02:45 pm BST - USA, Chicago Fed for July
• 03:30 pm BST - USA, change in oil inventories according to EIA
• 07:00 / 07:30 pm BST - USA, Fed decision/ Powell conference

1 August: Thursday

• (all day) industry PMI readings for July (Japan, China, eurozone, Canada US)
• 00:00 pm BST - UK, Bank of England decision
• 02:30 pm BST - USA, benefit claims 
• 03:00 pm BST - USA, ISM manufacturing (July)
• 03:30 pm BST - USA, change in gas inventories according to EIA

2 August: Friday

• 08:30 am BST - Switzerland, CPI inflation for July
• 01:30 pm BST - USA, Non-Farm Payrolls (NFP) for July
• 03:00 pm BST - USA, Orders for June