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Market themes of the Day: German and the US inflation headline

Written By OctaFx Analyst Team | 2018-07-12 01:58:10 GMT
  • The Banque de France Governor and the ECB Governing Council member Villeroy said that the first interest rate rise could take place at the earliest "through the summer" of 2019 depending on the inflation outlook.
  • Some ECB policymakers see rate hike only in autumn 2019.
  • German inflation is expected to confirm the preliminary reading of 2.1% y/y for June.
  • The ECB President Mario Draghi and the ECB executive board member Benoit Coeure are both participating in Eurogroup meeting in Brussels.
  • The ECB meeting minutes are scheduled for Thursday afternoon with three things to watch summed up in Yohay’s Preview here.

In the UK

  • The Bank of England Deputy Governor Sam Woods said getting EU to match UK measures to ensure continuity of financial firms' operations after Brexit is "a bit of a sore point."
  • Brexit “white paper” will be published today laying out in full detail the proposals behind last week's 3-page Chequers agreement.

In the US

  • China says will hit back after the US proposes fresh tariffs on $200 bln in goods.
  • The US core inflation is expected to accelerate to 2.3% y/y in June. For details read Yohay’s Preview here.

In Canada

  • The Bank of Canada hiked rates by 25 basis point to 1.50% as Canada’s economy continues to operate close to its capacity and the composition of growth is shifting. For details read Yohay’s Analysis here.

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By OctaFx Analyst Team
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