Markets: Key events in the week ahead - Rabobank

The Rabobank Research Team presents the key economic events due on the cards in the week ahead.

Key Quotes:

“A busy week packed with data and political events (the UK will have a new PM) ahead of us, but the main focus will be on central banks with five of them holding monetary policy meetings.

The spotlight will be on the ECB and the CBRT both scheduled to meet on Thursday. Our ECB watchers Elwin de Groot and Bas van Geffen believe the Governing Council to use this meeting to steer the market towards a rate cut in September amid prevailing uncertainties that affect business confidence, especially in the manufacturing sector.

Before the ECB announces its decision, the Governing Council will receive the latest piece of information about economic activity from the Eurozone flash PMI on Wednesday.

In Turkey, newly appointed CBRT Governor Uysal faces his first major test since he replaced Cetinkaya, who was abruptly dismissed by President Erdogan. 

On Tuesday we will find out whether Boris Johnson or Jeremy Hunt will be the next prime minister. As a hard Brexiteer the former is favourite to win. Johnson pledged to Tory members that the UK is set to leave the EU by 31 October, even without a deal.

In the US, the first print on Q2 GDP will be the highlight of the packed calendar. The pace of economic activity is expected to decelerate to 1.8% down from 3.1% in Q1.”