Week Ahead (1)

24th-28th July 2023

In a recap of this week, we had strong industrial bullish momentum while NQ and ES had a pullback. The CPI for GBP came in lower at 6.9%, but there is still a lot of work to be done, and I expect a 25 basis point hike for the next meeting (BOE). As mentioned previously, keep an eye on EURGBP; it extended further higher as GBP slumped with the lower CPI print. Great trade opportunities!

This week data:

• USD: CB Consumer Confidence, New Home Sales, FOMC Statement, Federal Funds Rate, FOMC Press Conference, Advance GDP q/q, Pending Home Sales m/m, Core PCE Price Index m/m, Employment Cost Index q/q & Revised UoM Consumer Sentiment

• GBP: Flash Manufacturing PMI’s & Flash Services PMI

• EUR: Flash Manufacturing PMI’s, German ifo Business Climate, Main Refinancing Rate, Monetary Policy Statement, Spanish Flash CPI y/y & German Prelim CPI m/m

• AUD: 0CPI q/q, CPI y/y & Trimmed Mean CPI q/q

• CAD: GDP m/m

• JPY: Tokyo Core CPI y/y, BOJ Outlook Report, Monetary Policy Statement, BOJ Policy Rate

A busy docket this week keep an eye on CB’s this week! Keep an eye on the DX1!

FX Futures:

• DX1!