Oil Prices Fall as G7 Reserve Release Eases Supply Fears 
European Stocks Diverge as French Fiscal Crisis Hits CAC 40 
China Shuts 670 Banks as Bitcoin Eyes Financial Risks 
Fed Unveils Stablecoin Rules Under GENIUS Act 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Ukraine Faces $56 Billion Budget Gap as War Costs Soar 
RBA Set for September Rate Hike as Inflation Stays High 
Gold Prices Rise as Weak US Jobs Data Cuts Fed Hike Bets 
Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets 
German Industrial Orders Plunge 10.6% in August 
BOJ Signals Faster Rate Hikes as Inflation Risks Grow 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
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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.
