Week Ahead starting 10/7/23: US banks; Delta; Pepsi; US inflation; NZ, and BoC rate decisions

Investors are provided with a comprehensive overview of the global economy as major Wall Street banks, Delta Airlines, and PepsiCo release their Q2 earnings. In addition, it is important to closely monitor the interest rate determinations expected from New Zealand and Canada.

Monday

Pay attention this week to inflation, confidence data , and interest rate decisions. On Monday, China releases its consumer price index and producer price index, which should give investors some idea of where inflation in the worlds most populous nation is headed in a time when the Chinese government is expected to announce more measures to support the faltering economic momentum there. The US releases wholesale inventories.

Tuesday

Australian consumer and business confidence data is announced on the same day as UK retail sales and jobless rate figures. Keep an eye out for the ZEW survey out of Germany for clues as to whether or not confidence has been dented by the recent trade salvos between the US and China.

Wednesday

Two interest rate decisions – one from New Zealand and the other from Canada – highlight just how difficult it has been for major central banks to get stubbornly high inflation to ease. Watch out for oil inventory data to shed light on the supply side.

Thursday

UK GDP data and trade numbers from Britain and China provide potential market moving points for currency traders.

Friday

It‘s the euro zone’s turn to report trade figures, plus the focus out of the US will be consumer confidence figures after the NFP data painted a robust picture of the US labour market.