FX.co ★ Week Ahead - July 14th

Next week promises significant developments in U.S. trade policy that will shape global growth prospects and influence market returns. This period coincides with the onset of the earnings season, featuring a host of critical economic data releases. U.S. President Trump is anticipated to continue issuing notifications introducing new tariff rates, with the European Union identified among the affected regions. Concurrently, the earnings calendar will see major U.S. banks, including JPMorgan, Bank of America, and Goldman Sachs, unveiling their results. Noteworthy earnings reports will also come from TSMC, Johnson & Johnson, ASML, Netflix, and 3M. On the economic data front, key announcements will be led by the U.S. Consumer Price Index (CPI), which is expected to show an uptick, in contrast to retail sales, which are likely to remain flat. The UK will release its inflation figures, while within the Eurozone, attention will focus on member countries' trade balances and industrial production data. In China, GDP growth is projected to have stayed above the 5% target for the second quarter. Investors will also be monitoring the country's trade balance, monetary aggregates, and the comprehensive data announcements for July.