July 24, 2024

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ECONOMIC AGENDA: The US holiday falls on Wednesday, with an emphasis on anger and government crisis

ECONOMIC AGENDA: The US holiday falls on Wednesday, with an emphasis on anger and government crisis

The agenda for the next few days is packed with important indicators for international markets. But investors’ attention is turning to the decision on interest rates in Brazil, with a new Copom meeting scheduled for Wednesday (19).

At the last Cobom meeting, the group had cut rates by 0.25 percentage points to 10.5% for the year.

However, BC hasn’t agreed on a new cut, which would mean keeping interest rates at their current levels – for who knows how long.

Apart from Copom, after Ibovespa ended the week in the red, local investors’ attention turned to Focus Bulletin.

This is because it will be the first edition of the central bank’s weekly report after several moves by the government around fiscal targets. The market did not digest President Luiz Inacio Lula da Silva’s speeches on the future of public accounts.

Finance Minister Fernando Haddad, Planning Minister Simone Tebet and Vice President Geraldo Alcmin tried to calm the situation, but it was not enough.

Now, the focus bulletin will show the market its perception of the extent of the decline in expectations, which include interest rates and inflation, in the coming years.

Also, the international highlight is the Juneteenth holiday in the US on Wednesday, which keeps markets closed and reduces liquidity in international stock markets.

The international agenda begins with a look at China

The week starts off busy in China with the release of various data on Sunday night: fixed assets, industrial production, retail sales and the unemployment rate, as well as investments relative to May.

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These indicators provide signals for investors to understand the economic health of the world’s second largest economy.

On Tuesday, attention turns to Europe. Germany and the eurozone release ZEW economic sentiment indices for June, in addition to the May eurozone consumer price index (CPI).

In the United States, the day is marked by retail sales and industrial production in May, as well as speeches by members of the Fomc, the US Copom, which will influence expectations about monetary policy.

Watch for these and other events next week. All times from Brasilia:

Monday (17)

bell Country event
(Sunday) 23:00 China Investment in fixed assets in May
(Sunday) 23:01 China Industrial production in May
(Sunday) 11:02 p.m China Retail sales in May
(Sunday) 23:03 China Unemployment Rate in China (May)
07:00 Euro zone Eurogroup meeting
08:00 Brazil IGP-10 Jun
08:25 Brazil Weekly Focus Newsletter
2:00 p.m to us Fomc, North American COBOM member Patrick D. Harker’s text
9:30 p.m to us Speech by Federal Reserve Governor Lisa T. Cook
Source: Investing.com

Tuesday (18)

bell Country event
06:00 Germany Zew Economic Sentiment Index for June
06:00 Euro zone Consumer Price Index (CPI) for May.
06:00 Euro zone Zew Economic Sentiment Index for June
07:00 Euro zone Eurogroup meeting
09:30 to us Retail sales in May
10:15 am to us Industrial production in May
11:00 p.m to us Text by Thomas Park, Fomc, Member of North American Cobom
5:30 p.m to us API Weekly Crude Oil Stocks
8:50 p.m Japan Minutes of the most recent monetary policy meeting
8:50 p.m Japan Trade balance will increase
Source: Investing.com

Wednesday (19)

bell Country event
throughout the day to us Juneteenth keeps the holiday markets closed
03:00 UK Consumer Price Index (CPI) for May.
03:00 UK Producer Price Index (PPI) for May.
04:00 Euro zone A non-European Central Bank (ECB) monetary policy meeting
4:00 p.m Argentina May have trade balance
4:00 p.m Argentina Unemployment rate in the first half
6:00 p.m Brazil Cobom interest rate decision
10:15 p.m China BPC Preferential Lending Rate in June
Source: Investing.com

Thursday (20)

bell Country event
throughout the day Argentina General D. The holiday of the death of Manuel Belgrano
03:00 Germany Producer Price Index (PPI) for May.
05:00 Euro zone ECB Monthly Report
07:00 Euro zone Eurogroup meeting
08:00 UK Interest rate decision in June
09:30 to us Continuous claims for unemployment insurance
5:00 p.m. to us Text by Thomas Park
8:30 p.m Japan Consumer Price Index (CPI) for May.
9:30 p.m Japan Industry and Services PMI for June
Source: Investing.com

Friday (21)

bell Country event
03:00 UK Retail sales in May
04:30 Germany Composite, Industrial and Services PMI for June
05:00 Euro zone Composite, Industrial and Services PMI for June
05:30 UK Composite, Industrial and Services PMI for June
07:00 Euro zone Eurogroup meeting
10:30 am Brazil Central tax revenue
10:45 am to us Composite, Industrial and Services PMI for June
Source: Investing.com

*This text was supported by artificial intelligence tools.

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