W Week Ahead

Week Ahead: US Employment Report, FOMC and ECB Minutes, G-20 Foreign Ministers

04 July, 2022

Key Macro Events

🇺🇸 Independence Day celebrations (4)

🇺🇦 Ukraine plans to put forward a blueprint this week for rebuilding the country. The plan, around 2,000 pages, will be introduced at a July 4-5 conference in the Swiss city of Lugano, according to people familiar with the outline – Bloomberg (from 4 to 5)

🇮🇹 Italian Prime Minister Mario Draghi and the leader of the 5-Star Movement Giuseppe Conte will meet on Monday to try to resolve tensions which could bring down Draghi’s 16-month old government – Reuters (4)

🇪🇺 May PPI YoY (4) ➡ A downward surprise is likely (consensus: +36.6%).

🇪🇺 ECB Governing Council member Joachim Nagel and ECB Vice President Luis de Guindos speak at the Frankfurt Euro Finance Summit organized by dfv Euro Finance Group GmbH in Frankfurt – Bloomberg (4)

🇪🇺 ECB Presents Climate Action Plan – Bloomberg (4)

🇦🇺 RBA Meeting (5)

🇪🇺 The European Union wants to increase the number of deep tech startups in Europe by attracting 45 billion euros ($47 billion) in private money and making it easier for founders to keep control of a firm once it goes public. The commission’s strategy will be unveiled Tuesday – Bloomberg (5)

🇫🇷 🇮🇷 Israel’s new interim prime minister, Yair Lapid, will depart on Tuesday morning for a meeting with French President Emmanuel Macron in Paris that’s due to focus on regional issues including talks to return to the 2015 Iran nuclear deal, and Israel’s disputed maritime border with Lebanon – Bloomberg (5)

🌎 June China, France, Germany, Italy, UK, Caixin/IHS Markit/S&P Global PMIs (5)

🇬🇧 BOE issues financial stability report, followed by a press briefing – Bloomberg (5)

🇫🇷 French railway unions have called for a national strike to demand wage increases in the face of rising inflation – Bloomberg (6)

🇪🇺 ECB policy makers convene Wednesday for the final scheduled opportunity to prepare for their two-day meeting starting July 20 – Bloomberg (6)

🇪🇺 ECB Governing Council member Olli Rehn speaks on a panel on Finnish foreign policy and security – Bloomberg (6)

🇬🇧 BOE Chief Economist Huw Pill is the keynote speaker on the second day of the Qatar Centre for Global Banking & Finance’s annual conference in London. BOE Deputy Governor Jon Cunliffe will be on a panel about central bank digital currency. This year’s theme is “The Role of Central Banks in a Transforming World.” King’s College London – Bloomberg (6)

🇬🇧 UK Prime Minister Boris Johnson appears before Parliament’s Liaison Committee – Bloomberg (6)

🇺🇸 New York Fed President John Williams makes opening and closing remarks at a virtual event on bank culture hosted by the New York Fed – Bloomberg (6)

🇺🇸 June Markit/S&P Global PMIs (6)

🇺🇸 June ISM Services (6)

🇺🇸 FOMC Minutes (6)

🌎 G-20 foreign ministers’ meeting convenes in Bali through July 8. Russian Foreign Minister Sergei Lavrov is among those scheduled to attend – Bloomberg (7)

🇪🇺 ECB Chief Economist Philip Lane participates in panel `The accelerated green transition in the post-Covid-19 era: What implications for productivity?’ at 2022 Annual Conference of the OECD Global Forum on Productivity `Challenges for productivity growth in the post Covid-19 era’ jointly organized with the European Commission in Brussels – Bloomberg (7)

🇪🇺 ECB Governing Council members Yannis Stournaras, Mario Centenoand Constantinos Herodotou speak at the Annual Economist Government Roundtable in Athens – Bloomberg (7)

🇪🇺 ECB publishes account of its June policy meeting – Bloomberg (7)

🇬🇧 BOE’s Catherine Mann speaks at the LC-MA Forum on current monetary-policy issues – Bloomberg (7)

🇬🇧 BOE releases its decision maker survey – Bloomberg (7)

🇺🇸 St. Louis Fed President James Bullard discusses the economy and monetary policy during an event hosted by the Little Rock Regional Chamber – Bloomberg (7)

🇺🇸 Fed Governor Christopher Waller is interviewed during a National Association for Business Economics event – Bloomberg (7)

🇪🇺 The ECB will announce the aggregate results of its first climate-risk stress test for European banks – Bloomberg (8)

🇪🇺 The “French Davos,” Rencontres Economiques forum, is held in Aix-en-Provence, France. Speakers include ECB President Christine Lagarde, Executive Board member Isabel Schnabel and Governing Council members Francois Villeroy de Galhau and Yannis Stournaras – Bloomberg (from 8 to 10)

🇺🇸 June Employment Report (8)

🇺🇸 New York Fed President John Williams speaks at an event hosted by the University of Puerto Rico – Bloomberg (8)

🇨🇳 June CPI and PPI (9)

🇯🇵 Japanese voters head for the polls in an upper house election on Sunday – Nikkei (10)




Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w26


What happened in the World Economy last Week – in charts – w26 (Bloomberg)

*Note: Previous reports can be found here