UK Election Results: Labour's Landslide Victory
The UK legislative election concluded with a landslide victory for the Labour Party. This significant political shift could bring substantial changes to the UK’s economic policies and market sentiment. Investors and analysts will closely monitor how the new government addresses ongoing economic challenges, including Brexit aftermath, inflation, and public spending.
Key Economic Events
Tuesday, July 9
Fed's Chair Powell Testifies
Fed Chair Jerome Powell will testify before Congress, providing insights into the Federal Reserve's economic outlook and monetary policy. Markets will be keenly attentive to his statements, particularly any hints regarding future interest rate adjustments or economic stimulus measures.
Wednesday, July 10
China Consumer Price Index (CPI) (YoY) (Jun)
China will release its CPI data, which is expected to show an increase of 0.3% year-over-year. This indicator will provide insight into inflationary pressures within the world's second-largest economy and could influence global commodity markets.
New Zealand Reserve Bank (RBNZ) Interest Rate Decision
The RBNZ will announce its interest rate decision, with expectations holding steady at 5.5%. The accompanying Monetary Policy Statement will be scrutinized for any signals about future rate adjustments, especially in response to global economic conditions.
Thursday, July 11
Eurozone Harmonized Index of Consumer Prices (HICP) (YoY) (Jun)
The HICP for June is expected to remain at 2.5% year-over-year. This measure of inflation is critical for the European Central Bank (ECB) as it guides their monetary policy decisions.
US Consumer Price Index (CPI) (Jun)
The US will release its CPI data, with expectations for a month-over-month increase of 0.1% and a year-over-year increase of 3.3%. The core CPI, which excludes food and energy prices, is expected to show a 0.2% month-over-month increase and a 3.4% year-over-year increase. These figures are crucial for understanding inflation trends and guiding the Federal Reserve's policy decisions.
Friday, July 12
Eurozone Retail Sales (YoY) (May)
Retail sales in the Eurozone are a key indicator of consumer spending and economic health. The year-over-year figure for May will provide insight into the region's economic resilience.
US Producer Price Index (PPI) ex Food & Energy (YoY) (Jun)
The PPI data will give insights into the inflationary pressures faced by producers, with expectations for a year-over-year increase of 2.3%. This data is essential for understanding upstream price changes that could eventually impact consumer prices.
US Michigan Consumer Sentiment Index (Jul) PREL
The preliminary Michigan Consumer Sentiment Index for July is expected to be at 68.2. This measure of consumer confidence provides insights into economic outlook and potential consumer spending behavior.
Stay informed and trade cautiously through these high impact news events. For a complete list of this week's macroeconomic releases, refer to our detailed schedule below!
As always, trade safe and stay updated with Darwinex Zero.
