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The Week Ahead On The Markets


MongiIG

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The Week Ahead

Read about upcoming market-moving events and plan your trading week

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Week commencing 24 July

Chris Beauchamp's insight

This week is again dominated by earnings season in the US, which continues with technology companies such as Alphabet, Microsoft and Intel. Rate decisions by the Federal Reserve (Fed), European Central Bank’s (ECB) and the Bank of Japan (BoJ) in the latter part of the week will also be closely monitored. Flash purchasing managers index (PMI), consumer sentiment, US and French preliminary second quarter (Q2) gross domestic product (GDP) as well as German consumer price index (CPI) and US personal consumption expenditure price index (PCE) price inflation data will likely add some volatility to the mix.

Economic reports

  • Weekly view

Monday

1.30am – Japan PMI (July, flash): manufacturing to rise to 50 and services to drop to 53.4. Markets to watch: JPY crosses

8.30am – Germany PMI (July, flash): manufacturing to fall to 40 and services to weaken to 52.9. Markets to watch: eurozone indices, EUR crosses

9am – eurozone PMI (July, flash): manufacturing to fall to 42.8 and services to fall to 51.5. Markets to watch: eurozone indices, EUR crosses

9.30am – UK PMI (July, flash): manufacturing PMI to fall to 46 and services to fall to 53. Markets to watch:

1.45 – US Chicago Fed index (June): index to rise to 0.2. Markets to watch: USD crosses

2.45pm – US PMI (July, flash): manufacturing PMI to fall to 46 and services to weaken to 54. Markets to watch:

 

Tuesday

9am – German IFO index (July): index to fall to 86.6 from 88.4. Markets to watch: EUR crosses

3pm – US consumer confidence (July): index to rise to 113 from 109.7. Markets to watch: USD crosses

 

Wednesday

2.30am – Australia inflation (Q2): prices to rise 6.3% YoY from 7% and 1.1% from 1.4% QoQ. Markets to watch: AUD crosses

3pm – US new home sales (June): sales to fall 4% MoM. Markets to watch: USD crosses

3.30pm – US EIA crude oil inventories (w/e 21 July): stockpiles fell by 70.1 million barrels in the preceding week. Markets to watch: Brent, WTI

7pm – FOMC rate decision: US interest rates expected to rise to 5.5% from 5.25%. Press conference at 7.30pm. Markets to watch: US indices, USD crosses

 

Thursday

7am – German GfK consumer confidence (August): index to rise to -24. Markets to watch: EUR crosses

1.15pm – ECB rate decision: rates to rise to 4.25%. Press conference at 1.45pm, which may provide further detail on the outlook. Markets to watch: eurozone indices, EUR crosses

1.30pm – US GDP (Q2, advance), durable goods orders (June), initial jobless claims (w/e 22 July): GDP to rise 1.9% QoQ, from 2% in Q1. Durable goods orders to rise 1% and fall 0.1% excluding transportation. Markets to watch: US indices, USD crosses

3pm – US pending home sales (June): sales to rise 0.5% MoM. Markets to watch: USD crosses

 

Friday

4am – Bank of Japan rate decision: rates to be held at 0.1%. Markets to watch: JPY crosses

1pm – German CPI (July, preliminary): prices to rise 6.1% YoY and 0.2% MoM, from 6.4% and 0.3%. Markets to watch: EUR crosses

1.30pm – US PCE price index (June): core PCE price index to rise 0.2%, from 0.3% in May. Markets to watch: US indices, USD crosses

 

Company announcements

 
 

Dividends

FTSE 100: SSE

FTSE 250: Qinetiq, NB Private Equity, Monks Inv Trust, Bankers Inv Trust, City of London Inv Trust

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

Index adjustments

 

Monday
17 July
Tuesday
18 July
Wednesday
19 July
Thursday
20 July
Friday
21 July
Monday
24 July
FTSE 100            
Australia 200 0.4          
Wall Street   8.6 6.2      
US 500   0.08 0.44   0.08 0.08
Nasdaq     0.01      
Netherlands 25            
EU Stocks 50         2.4  
China H-Shares         1.3  
Singapore Blue Chip            
Hong Kong HS50         2.4  
South Africa 40            
Italy 40         110.0  
Japan 225            

* Please note these can change without notice

* Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day

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