Following the publication of numerous economic data in the past trading week, the number of potential catalysts over the next five days is comparatively limited. However, with a planned speech by Fed Chairman Jerome Powell and the publication of new US inflation data, investors' attention span should remain wide. The start of the reporting season is also likely to be of interest.
Fed representatives could provide monetary policy clues - All eyes on Jerome Powell
From the perspective of the economic data calendar, things are only likely to get exciting on Tuesday. With Michael Barr (Vice Chairman for Supervision/15:15), Jerome Powell (17:00) and Michelle Bowman (Governor/19:30), three Fed representatives will have their say.
In the middle of the week, a speech by the Fed Chairman (16:00) will once again have to be tapped for monetary policy clues. His colleague Austan Goolsbee (Chicago/20:30) rounds off the day.
Core US inflation rate could hold steady - producer prices in focus on Friday
The publication of new US consumer price data on Thursday (14:30) will undoubtedly be the highlight of the week. The core rate is expected to rise by 3.4% in June, compared to 3.4% in May (on a year-on-year basis). This rate is also considered to be decisive for the US Federal Reserve.
Economists expect consumer prices, including the drivers energy and food, to have lost significant momentum (3.3 percent vs. 3.1 percent).
In the early evening (17:30), Raphael Bostic (Atlanta) will once again be the focus of attention.
On Friday, as on Thursday, attention is likely to focus on US price data. The so-called Producer Price Index (PPI) is expected to rise by 0.1% compared to the previous month (previously: -0.2%).
Major US banks traditionally kick off the reporting season
From a corporate perspective, the focus is traditionally on the major US banks, which present their business figures for the second quarter and thus open the reporting season in the US. In addition to Citigroup, JPMorgan and Wells Fargo will present their figures.
