📈 This Week in Markets

Plus: China’s Economic Data Deluge

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Good Morning!

This week, we're diving into critical updates that could reshape your investment strategies. From the S&P 500 futures barely moving after an inflation-fueled rally to a major growth stock that's down 40% this year—there's plenty to watch. Bitcoin's $66K price is at a crucial juncture, while Adobe is soaring on AI-driven success.

Keep your eyes peeled for key data drops, like U.S. retail sales, Fed talks, and China's economic deluge. Plus, stay ahead with insights from the Bank of England's upcoming policy meeting and Eurozone's economic health check.

Grab your coffee and let's get into it! ☕️👇️


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This Week in Markets: Retail Sales, Fed Talks, and Global Central Banks

U.S. Retail Sales and Fed Insights: What to Expect

Get ready, folks! U.S. retail sales data for May is dropping on Tuesday, and it's going to be a nail-biter. This data is like the crystal ball of the U.S. economy, revealing how consumer spending is holding up under higher interest rates. Last month, retail sales were a dud, so everyone’s crossing their fingers for the projected 0.3% bump.

  • Why It Matters: Retail sales are a huge deal because consumer spending is the lifeblood of the economy.

  • Fed Watch: Tune in for comments from Federal Reserve bigwigs like New York Fed President John Williams and Minneapolis Fed President Neel Kashkari. Their insights could hint at future rate decisions.

  • Inflation Focus: The Fed isn't cutting rates until they see more cooling inflation, so keep an eye out for their updates.

China’s Economic Data Deluge

Hold onto your hats, because China is about to flood us with a ton of economic data. We're talking home prices, industrial output, urban unemployment, and retail sales.

  • Property Market: Monday kicks off with home price data, the first since Beijing's recent stabilization efforts. So far, the impact has been meh.

  • Stimulus Hopes: Recent data screams for more stimulus, and there's a key loan prime rate decision on Thursday.

  • Trade Tensions: Europe slapping extra duties on Chinese electric cars isn’t helping the situation either.

Bank of England and Central Bank Movements

The Bank of England (BoE) is gearing up for its Thursday policy-setting meeting. Spoiler alert: Don’t expect any rate cuts just yet. The market is betting on an August or September move instead.

  • Inflation Watch: May inflation data drops a day before the BoE meeting. It might finally hit the bank’s 2% target, but underlying inflation is still a concern.

  • Global Central Banks: Central banks in Switzerland, Norway, and Australia are also meeting this week. Switzerland might cut rates, but Norway and Australia are expected to hold steady.

Eurozone Economic Health

The Eurozone is set to release its latest purchasing manager indexes for June on Friday. These indexes are a key indicator of economic health in the bloc.

  • ECB Insights: European Central Bank officials, including President Christine Lagarde, will be speaking throughout the week. Investors are eager to hear about economic recovery or potential turmoil.

  • French Market Woes: French markets took a beating last week due to political uncertainties. Finance Minister Bruno Le Maire warned of a potential financial crisis if the far-right wins upcoming elections.

Oil Prices and Market Dynamics

Oil prices surged last week, with Brent and the U.S. benchmark gaining nearly 4%. This is the highest rise since April, driven by forecasts of strong demand for crude oil and fuel in 2024.

  • Demand Forecasts: The U.S. Energy Information Administration (EIA) and OPEC are forecasting solid demand growth, while the International Energy Agency (IEA) predicts a smaller increase.

  • Supply Deficit: All major forecasters are predicting a supply deficit continuing until at least the beginning of winter.

Stay tuned for these critical developments, as they will shape the economic landscape and influence investment strategies. For more detailed analysis and updates, make sure to check out the full articles linked within this newsletter.

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