Expectations of constructive talks next week on tanker flows between the GCC and Iran have brought a halt to the recent surge in oil and gas prices, easing market concerns over the inflation outlook. The outcome of these discussions will help shape global borrowing costs as the Federal Reserve prepares its next interest rate decision.
In the United States, the data calendar includes releases on retail sales, terms of trade, and industrial production. Monetary policy will also be in focus in the United Kingdom and Japan, where central banks are set to deliver policy announcements.
The UK faces a particularly data-heavy week, with reports due on inflation, wages, and retail sales. In Europe, Germany will publish its ZEW economic sentiment index, while the Euro Area will release figures on goods trade and industrial production.
China is set to report a raft of key indicators, including industrial production, retail sales, unemployment, housing prices, and credit aggregates. In parallel, BRICS countries are scheduled to convene for a meeting.
