Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
US Treasury Doubles Long-Term Bond Buybacks as Yields Surge 
Wall Street Slides as Treasury Yields Surge to 19-Year High 
Japan Trade Deficit Widens as Imports Surge on Energy and AI Demand 
Trump Eyes 15% Tariff on Canadian Auto Imports in New Trade Deal 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
Australia Unemployment Rate Hits 4.5% as Jobs Fall in July 
Fed Minutes Signal Rate Hikes Remain Possible as Inflation Risks Persist 
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This week is quite risk heavy with lots of economic data from both developed economies as well as Asian giant like China.
What to watch for over the coming days:
- U.S. economic data:
Lot many economic dockets are scheduled for this week. On Monday, its consumer income and spending, consumer confidence on Tuesday, ADP employment report on Wednesday, Unit Labor costs and ISM manufacturing PMI on Thursday and finally the non-farm payroll report on Friday. Better data will increase the likelihood of a rate hike in September.
- UK economic data:
Focus will remain on UK data to assess the impact of the referendum. If it turns out that the UK economy is weathering the storm well, the sterling can go for larger recovery. Consumer credit, money supply, and mortgage approvals data will be released on Tuesday, house prices data scheduled for Wednesday release, and manufacturing PMI report on Thursday.
- Fed speakers:
Two prominent Fed speakers, Loretta Mester of the St. Louis Fed and Eric Rosengren of Boston Fed, both a voter in this year’s FOMC, are scheduled to speak this week.
In addition to the above, unscheduled Brexit commentaries would keep weighing on the market.
