Markets.com Logo
euEnglish
LoginSign Up

Week ahead: Fed, ECB & BoJ in action

Jul 21, 2023
3 min read
Table of Contents
  • 1. Monday
  • 2. Tuesday
  • 3. Wednesday
  • 4. Thursday
  • 5. Friday

boe-rba-interest-rate.jpg

Spain’s election results provide the backdrop for European equity markets at the start of the week before we get into a busy calendar of economic data releases, starting with PMI surveys on Monday. These updates tee up a huge week for central banks as the Federal Reserve, European Central Bank and Bank of Japan meet to set interest rates. It’s also a huge week for earnings on Wall Street with around one-third of Dow Jones industrial average components reporting, whilst megacap tech gets an outing with Alphabet, Amazon, Meta and Microsoft delivering earnings updates.

 

Here are the week’s key events:

Monday

Europe wakes up to results from the Spanish elections and PMI surveys from Japan and Australia ahead of the major market-moving reports from the Eurozone, UK and US. Manufacturing in contraction, services bouncing along happily in expansion have been the stories this year for the world’s major economies. Earnings season takes a pause, so the focus is on the macro data ahead of the central bank meetings later in the week.

 

Tuesday

Bank of Japan core CPI numbers will be one to watch for JPY, while EUR traders will watch the German Ifo business climate survey. In the US the focus is on the Conference Board consumer confidence survey and Richmond manufacturing index. Earnings aplenty with some major Dow components and a couple of the megacap tech names in Microsoft and Alphabet reporting numbers.

Earnings: 3M (MMM), General Electric (GE), General Motors (GM), Spotify (SPOT), Verizon (VZ), Alphabet (GOOG), Microsoft (MSFT), Snap (SNAP), Visa (V), Unilever (ULVR)

 

Wednesday

AUD will likely move on the latest Australian CPI inflation report, with the RBA’s August 1st decision on a knife-edge after it paused in July. But the main focus is on the Fed with markets fully pricing a 25bps hike – the key for the market is on what comes next – is it one and done or will the Fed and chair Jay Powell seek to signal that it can do more and will probably need to lean against persistent core inflation for longer. Earnings come from Boeing, Meta and Coca-Cola.

Earnings: AT&T (T), Boeing (BA), Coca-Cola (KO), Meta Platforms (META), Lloyds (LLOY), Rio Tinto

 

Thursday

It’s over to the European Central Bank and its July meeting. Christine Lagarde pre-announced another 25bps hike a month ago, so the main focus is on the guidance around the September meeting. The hawkish head of the Dutch central bank, Klaas Knot, said monetary tightening after this meeting is far from guaranteed, indicating that the ECB may be about to pause is rate hiking cycle. Earnings come from Amazon, Ford and Intel.

Earnings: AbbVie (ABBV), Mastercard (MA), McDonald’s (MCD), Amazon (AMZN), Ford (F), Intel (INTC), Roku (ROKU), Anglo American (AAL), Drax (DRX), Segro (SGRO)

 

Friday

Tokyo core inflation tees up the Bank of Japan decision. So far, the new governor has been at pains to stress no action on changing yield curve control until inflation is more sustained. The Japanese yen remains sensitive to any hints about the BoJ altering course this year. Meanwhile attention will also fall on German preliminary CPI inflation and the US core PCE reading, the Fed’s preferred measure of underlying inflation.

Earnings: Rightmove (RMV), NatWest (NWG), Intertek (ITRK), AstraZeneca (AZN), Chevron (CVX), Exxon Mobil (XOM), Procter & Gamble (PG)


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Neil Wilson
Written by
Neil Wilson
SHARE

Markets

  • Palladium - Cash

    chartpng

    --

    -1.17%
  • EUR/USD

    chartpng

    --

    -0.12%
  • Cotton

    chartpng

    --

    -0.74%
  • AUD/USD

    chartpng

    --

    -0.49%
  • Santander

    chartpng

    --

    0.16%
  • Apple.svg

    Apple

    chartpng

    --

    -0.02%
  • easyJet

    chartpng

    --

    -0.54%
  • VIXX

    chartpng

    --

    -0.28%
  • Silver

    chartpng

    --

    -2.40%
Tags DirectoryView all
Table of Contents
  • 1. Monday
  • 2. Tuesday
  • 3. Wednesday
  • 4. Thursday
  • 5. Friday

Related Articles

ECB Rate Cut Expectations Revised Amid Economic Resilience

Following the ECB's decision to hold interest rates steady, Goldman Sachs and JPMorgan Chase revised their expectations for future rate cuts, considering the economic resilience and potential developments in EU-US trade relations.

Liam James|about 24 hours ago

Hedge Funds Advise Buying Protection Against Potential Stock Market Downturn

As U.S. stock markets soar to record highs, firms like Goldman Sachs and Citadel are advising clients to buy relatively inexpensive hedges to protect against potential losses due to a confluence of risks.

Ava Grace|1 day ago

Federal Funds Rate vs. SOFR: Liquidity Measurement Debate in US Financial System

As excess cash in the US financial system shrinks, calls grow to reassess how to measure liquidity tightness and which benchmarks the Fed should target.

Liam James|1 day ago
Markets.com Logo
google playapp storeweb tradertradingView

Contact Us

support@markets.com+12845680155

Markets

  • Forex
  • Shares
  • Commodities
  • Indices
  • Crypto
  • ETFs
  • Bonds

Trading

  • Trading Tools
  • Platform
  • Web Platform
  • App
  • TradingView
  • MT4
  • MT5
  • CFD Trading
  • CFD Asset List
  • Trading Info
  • Trading Conditions
  • Trading Hours
  • Trading Calculators
  • Economic Calendar

Learn

  • News
  • Trading Basics
  • Glossary
  • Webinars
  • Traders' Clinic
  • Education Centre

About

  • Why markets.com
  • Global Offering
  • Our Group
  • Careers
  • FAQs
  • Legal Pack
  • Safety Online
  • Complaints
  • Contact Support
  • Help Centre
  • Sitemap
  • Cookie Disclosure
  • Awards and Media

Promo

  • Gold Festival
  • Crypto Trading
  • marketsClub
  • Welcome Bonus
  • Loyal Bonus
  • Referral Bonus

Partnership

  • Affiliation
  • IB

Follow us on

  • Facebook
  • Instagram
  • Twitter
  • Youtube
  • Linkedin
  • Threads
  • Tiktok

Listed on

  • 2023 Best Trading Platform Middle East - International Business Magazine
  • 2023 Best Trading Conditions Broker - Forexing.com
  • 2023 Most Trusted Forex Broker - Forexing.com
  • 2023 Most Transparent Broker - AllForexBonus.com
  • 2024 Best Broker for Beginners, United Kingdom - Global Brands Magazine
  • 2024 Best MT4 & MT5 Trading Platform Europe - Brands Review Magazine
  • 2024 Top Research and Education Resources Asia - Global Business and Finance Magazine
  • 2024 Leading CFD Broker Africa - Brands Review Magazine
  • 2024 Best Broker For Beginners LATAM - Global Business and Finance Magazine
  • 2024 Best Mobile Trading App MENA - Brands Review Magazine
  • 2024 Best Outstanding Value Brokerage MENA - Global Business and Finance Magazine
  • 2024 Best Broker for Customer Service MENA - Global Business and Finance Magazine
LegalLegal PackCookie DisclosureSafety Online

Payment
Methods

mastercardvisanetellerskrillwire transferzotapay
The www.markets.com/za/ site is operated by Markets South Africa (Pty) Ltd which is a regulated by the FSCA under license no. 46860 and licensed to operate as an Over The Counter Derivatives Provider (ODP) in terms of the Financial Markets Act no.19 of 2012. Markets South Africa (Pty) Ltd is located at BOUNDARY PLACE 18 RIVONIA ROAD, ILLOVO SANDTON, JOHANNESBURG, GAUTENG, 2196, South Africa. 

High Risk Investment Warning: Trading Foreign Exchange (Forex) and Contracts For Difference (CFDs) is highly speculative, carries a high level of risk and is not appropriate for every investor. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full  Risk Disclosure Statement which gives you a more detailed explanation of the risks involved.

For privacy and data protection related complaints please contact us at privacy@markets.com. Please read our PRIVACY POLICY STATEMENT for more information on handling of personal data.

Markets.com operates through the following subsidiaries:

Safecap Investments Limited, which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08. Safecap is incorporated in the Republic of Cyprus under company number ΗΕ186196.

Markets International Limited is registered  in the Saint Vincent and The Grenadines (“SVG”) under the revised Laws of Saint Vincent and The Grenadines 2009, with registration number  27030 BC 2023.

Close
Close

set cookie

set cookie

We use cookies to do things like offer live chat support and show you content we think you’ll be interested in. If you’re happy with the use of cookies by markets.com, click accept.