Reply To: Traders Market Weekly: Half Year Rebalancing High Wire Act

#39149
Truman
Participant

Belgium’s Prime Minister De Croo said that EU members need to buy energy collectively to avert a crisis in the winter while German Chancellor Scholz claimed that his country is well prepared for energy-related challenges. European Central Bank policymaker Kazimir said that the ECB is likely to hike by 25 bps in July, followed by a 50-bps hike in September. He added that the ECB’s key rate could be between 1.50% and 2.00% in a year. Ukraine received EU candidate status, though full accession, which isn’t guaranteed, is likely to take at least several years.

Germany’s June ifo Business Climate Index 92.3 (expected 92.9; last 93.0). June Current Assessment 99.3 (expected 99.1; last 99.6) and Business Expectations 85.8 (expected 87.4; last 86.9)
U.K.’s May Retail Sales -0.5% m/m (expected -0.7%; last 0.4%); -4.7% yr/yr (expected -4.5%; last -5.7%). May Core Retail Sales -0.7% m/m (expected -1.0%; last 0.2%); -5.7% yr/yr (expected -5.1%; last -6.9%)
Italy’s June Business Confidence 110.0 (expected 108.5; last 109.4) and Consumer Confidence 98.3 (expected 102.5; last 102.7)
Spain’s Q1 GDP 0.2% qtr/qtr (expected 0.3%; last 2.2%); 6.3% yr/yr (expected 6.4%; last 5.5%)