Scheduled economic news most likely to move markets today
Australia – consumer data – inflation and loans
Germany – consumer price data due at: 07:00 (BST)
UK – BoE governor speech and financial stability report due at: 11:00 & 10:30 (BST)
EU – ECB monetary policy meeting accounts report due at: 12:30
U.S. – consumer price data and jobless claims due at 13:30
U.S. Various Fed speeches due from: 15:00 (BST)
Ongoing and new
U.S. & China trade war – talks progress – report of communication on Tuesday 9th July 2019 but no new detail since. Fed interest rate cut speculation jumped up a notch on 10th July 2019 as Fed seemingly hinted at a July rate cut more likely now as economic headwinds gather – (markets expect it). How strong is the U.S. economy? U.S. trade policies continues to weigh on global markets.
Geopolitical tensions (U.S., Iran, UK & EU) over Iranian sanctions deal. UK frigate escorts British oil tanker in the Strait of Hormuz . UK Brexit paralysis continues. U.K. leadership challenge ebbs on, result expected in two weeks. Italy debt and weakening economy.
Potential global economic slowdown concerns linger. Japan and South Korea trade tensions reported. China reportedly made request for U.S. to unravel/cancel planned Taiwan arms deal. U.S. trade tensions with India growing. Huawei? The UK economy grew more than expected in May according to data from the Office for National Statistics but remains subdued.
And latest diplomatic spat between U.S. and UK over the UK’s U.S. ambassador’s alleged leaked comments leading to President Trump’s criticism of Prime Minister May rumbles on as the ambassador resigns.
More Trump tweets…