Markets: What to look out for this week? – Deutsche Bank

Analysts at Deutsche Bank suggest that the most significant event today is the start of the ECB's Forum on Central Banking in Sintra (continuing until Wednesday), with President Draghi due to make opening remarks in the evening.

Key Quotes

“Away from that, the Fed's Dudley and Williams are all due to speak while datawise in the US the NAHB housing market index reading is due for June. Finally the Brexit withdrawal bill passes to the House of Lords on Monday and Germany Chancellor Merkel meets new Italy PM Conte.”

“Tuesday: The ECB Sintra conference will feature comments from President Draghi again, along with Board Member Praet and Governor Lane. The Fed's Bullard is also due to take part. Away from that the only data of note is the Euro area's current account balance reading for April and US housing starts and building permits for May. It's worth noting that Germany Chancellor Merkel will also meet France President Macron on Tuesday.”

“Wednesday: Concluding the ECB conference will be comments from Board Members Lautenschlager and Coeure, along with a policy panel featuring President Draghi, Fed Chair Powell and BoJ Governor Kuroda. Away from that BoJ meeting minutes will be out overnight, while Germany PPI for May, UK CBI selling prices data for June and May existing home sales in the US will be released. Away from that the OPEC International Seminar is due to begin in Vienna.”

“Thursday: The main focus on Thursday will be the BoE meeting at midday. Governor Carney will hold a press conference and then later in the evening is due to make his Mansion House speech. Data releases on Thursday include June confidence indicators in France, May public sector net borrowing data in the UK, June confidence indicators for the Euro area, along with weekly initial jobless claims, June Philly Fed business outlook, May leading index and April FHFA house price index readings in the US. The ECB's Villeroy de Galhau and Nowotny are also scheduled to speak along with the Bundesbank's Weidmann. Elsewhere the Fed's 2018 bank stress test results will be released, while Thursday also marks the deadline for Greece's debt relief deal.”

“Friday: The big data highlight on Friday is the release of the flash June PMIs around the world. In Japan the manufacturing reading will be released while in Europe and the US we'll receive the manufacturing, services and composite prints. Away from that the May CPI report in Japan will be released and the final Q1 GDP revisions will be made in France. The Oil market will also be in focus with the OPEC meeting in Vienna (continuing into Saturday).”