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Economic Calendar This Week

ECB Policy Meeting:

ECB Policy meeting will be held on Thursday, this week. As per expert’s expectation, ECB won’t cut interest rates.

But expectations are:

  • ECB may hint to loosen monetary policy.
  •  May hint to inject fresh stimulus.
  •  May adopt diplomatic steps in response to the impact of global trade tension

Economic Data: 

Advance Manufacturing PMI Data for U.S., Euro zone and Japan will be announced on Wednesday on 24th. The U.S. will report New and Existing Home sales and Durable goods orders. On Friday, U.S. will read second quarter growth. It is estimated that growth will be slower to 1.8 % from 3.1% in first quarter.

FAANGS Earnings:

Netflix shares dropped 10.2% after it reported first U.S. Subscriber drop in 8 years. Facebook has seen fall in shares price because of greater regulation of its handling of private information. FB is planning to launch for a cryptocurrency , Libra.

Amazon reported that Walmart and Target are getting more competitive with online sales.

New UK Prime Minister:

Boris Johnson is almost certain to be new prime minister. The result will be declared on Tuesday and Teresa May will hand over power on Wednesday.

Turkey rate cut expected:

On Thursday, the new governor Murat Uysal will definitely cut rates in spite of risk of Lira being down against US Dollar, but market will like to see how much.

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