Important events and data preview this week: China and the United States CPI data and Powell's Capitol Hill hearing
Monday
Data: Japan's May trade account, Germany's May seasonally adjusted trade account, Eurozone July Sentix investor confidence index, US June New York Fed 1-year inflation expectations
Tuesday
Data: China's June M2 money supply annual rate, US June NFIB small business confidence index
Event:
Federal Reserve Board member Barr spoke at an event hosted by the Federal Reserve, and Federal Reserve Chairman Powell delivered a semi-annual monetary policy testimony at the Senate Banking Committee
Wednesday
Data: 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
Event: EIA releases monthly short-term energy outlook report, Federal Reserve Board member Bowman speaks, Federal Reserve Chairman Powell delivers a semi-annual monetary policy testimony to the House Financial Services Committee, OPEC releases monthly crude oil market report
Thursday
Data:
US 10-year Treasury auction to July 10- Winning bid 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
Events:
Federal Reserve Board members Cook and Bostic delivered speeches, IEA released monthly crude oil market report, domestic refined oil opened a new round of price adjustment window
Friday
Data:
China June trade account, France June CPI monthly rate, US June P PI data, US one-year inflation rate forecast for July, preliminary value of the University of Michigan Consumer Confidence Index for July
Event:
2025 FOMC voting member, St. Louis Fed President Moussalem spoke on the economy
Saturday
Data:
Total number of oil rigs in the United States as of July 12
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