Important events and data preview this week: China and the United States CPI data, Powell's Capitol Hill hearing
Monday:
①Data: Japan's May trade account; Germany's May seasonally adjusted trade account; Eurozone Sentix investor confidence index in July; US New York Fed 1-year inflation expectations in June.
Tuesday:
①Data: China's June M2 money supply annual rate; US June NFIB small business confidence index.
②Event: Fed Governor Barr was invited to speak at an event hosted by the Fed; Fed Chairman Powell delivered a semi-annual monetary policy testimony at the Senate Banking Committee.
Wednesday:
①Data: US weekly API crude oil inventory, EIA crude oil inventory; China's June CPI; New Zealand Fed interest rate decision to July 10; US May wholesale sales monthly rate.
②Event: EIA releases monthly short-term energy outlook report; Fed Governor Bowman delivers a speech; Fed Chairman Powell delivers a semi-annual monetary policy testimony at the House Financial Services Committee; OPEC releases a monthly crude oil market report.
Thursday:
① Data: US 10-year Treasury auction to July 10 - winning interest rate, bid multiple; German June CPI monthly rate final value; UK May three-month GDP monthly rate, May manufacturing output monthly rate, May seasonally adjusted commodity trade account, May industrial output monthly rate; US June CPI; US weekly initial claims; US weekly EIA natural gas inventory.
② Events: Fed Governors Cook and Bostic delivered speeches; IEA released monthly crude oil market report; domestic refined oil will open a new round of price adjustment window.
Friday:
① Data: China's June trade account; France's June CPI monthly rate; US June PPI data; US July one-year inflation rate expectations; US July University of Michigan Consumer Confidence Index preliminary value.
② Events: 2025 FOMC voting member, St. Louis Fed President Musallem delivered a speech on the economy.
Saturday:
① Data: US total number of oil rigs in the week to July 12.