The US–Iran conflict will remain in focus as prospects for renewed negotiations are offset by continued strikes and naval blockades at key maritime chokepoints, pushing up energy prices and contributing to global inflation. Corporate earnings will also be a major driver of equity markets, with results due from large-cap names including Apple, Microsoft, Amazon, Meta, and Samsung.
In the US, the Federal Reserve will announce its July policy decision, coinciding with the release of Q2 GDP figures and the personal income and outlays report. Additional data on the calendar include the Conference Board’s consumer confidence index, the trade balance, and employment cost figures.
In Europe, the Bank of England will decide on its Bank Rate, while the Eurozone will publish GDP and inflation data. It will also be a busy week in Asia, led by the Bank of Japan’s rate decision and a raft of indicators on industrial production, retail sales, and unemployment from regional statistical agencies.
In China, the Communist Party will hold its July Politburo meeting, serving as a mid-year policy review. China will also release its latest purchasing managers’ indices (PMIs).
