FX.co ★ Week Ahead - Aug 10th

Ongoing negotiations between Iran, the United States, and GCC states over access to the Strait of Hormuz will remain a key driver of global energy prices and expectations for future interest rates. At the same time, the volatile AI-related trade will be in focus as Applied Materials, Cisco, and CoreWeave report earnings.

In the US, consumer inflation data will be released against a backdrop of division within both the FOMC and financial markets over the Federal Reserve’s rate decision next month. Additional US releases will include producer price inflation (PPI), retail sales, and the University of Michigan Consumer Sentiment Index.

In Europe, the UK and Switzerland will publish their Q2 GDP figures, while the Eurozone will release industrial production data. In Asia, Chinese monetary aggregates will be closely watched, and Taiwan’s GDP report will provide clearer insight into global semiconductor production. Both China and India are also scheduled to release their latest inflation readings.

Among G10 central banks, policy decisions are expected from Australia and Norway, and the Bank of Japan will publish the Summary of Opinions from its July meeting.