FX.co ★ Week Ahead - July 7th

In the upcoming week, investors are poised to pay close attention to trade developments in the United States, as the deadline of July 9th approaches, signaling the end of the previously established tariff moratorium announced in April. The Trump administration has commenced issuing formal notifications to its trading partners regarding the tariff rates they will be subjected to. By July 4th, only a handful of agreements had been finalized, namely with the United Kingdom, Vietnam, and a framework with China. Additionally, the release of the Federal Open Market Committee (FOMC) minutes will capture attention, as traders seek to gain insight into the Federal Reserve's policy trajectory for the remainder of the year. Federal Reserve Chair Jerome Powell has consistently advocated a prudent, observant approach. On the economic side, the U.S. calendar is relatively sparse. Meanwhile, on the global stage, markets will focus on China's consumer and producer price indexes, the United Kingdom's monthly GDP figures, Germany's industrial production and trade data, Canada's labor market report, and monetary policy announcements from central banks in Australia, South Korea, Malaysia, and New Zealand.