The ECB policy meeting will be at the top of the week as investors wait to see what action may be taken by Central Bank President Mario Draghi to support the Euro-Zone economy. Investors will also be closely watching the arrival of the UK’s new prime minister before the end of this week. As concerns about the possible lack of a Brexit deal will continue to rise. U.K prime minister Theresa May will deliver her final speech “farewell speech” as PM next Wednesday.
Let’s take a quick look at the most important events that are likely to affect the market:
U.S Economic Data
The U.S will report on Durable Goods Orders for Jun on Thursday at 12:30 GMT.
Eurozone Economic Data
- Germany will report on Manufacturing PMI (Jul) on Wednesday at 07:30 GMT.
- German Ifo Business Climate Index (Jul) on Thursday at 08:00 GMT.
- ECB Monetary Policy Statement/ECB Interest Rate Decision (Jul) on Thursday at 11:45 GMT. The central bank is expected to leave rates unchanged at 0.00%.
- ECB president Press Conference at 12:30
New UK prime minister
British Prime Minister Theresa May said she would make a statement on Wednesday afternoon before leaving her official residence in Downing Street to resign to Queen Elizabeth.
Britain’s new prime minister will take office on Wednesday shortly after May’s resignation.
The race for the premiership is still between Boris Johnson and Foreign Secretary Jeremy Hunt, although Johnson seems much closer to the premiership. Last week British legislators passed a measure that would prevent the next prime minister from suspending parliament to push Britain out of the EU (Brexit).
You may flow events in realtime from here: