Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
In terms of data, this week is relatively less risk heavy but post-Brexit fallouts can always compensate for that.
What to watch for over the coming days:
- US earnings season -
US earnings are likely to not just weigh over the movement in S&P 500 index but likely to have an impact on the global economy too. The resilience of US companies likely to bolster risk-on sentiment across the globe. Earnings of the US companies are expected to decline 5.2 percent this quarter. The energy sector is likely to be the biggest drag with more than 80 percent expected decline.
- Chinese economic data –
Investors are likely to focus on the array of Chinese releases this week in order to gauge the strength of the second largest economy. Money supply, new loans data, and trade balance report is scheduled early in the week but the most vital one, the GDP figure will be released on Friday.
- U.S. economic data -
With non-farm payroll surprising on the upside, the focus will now turn to producer price index and consumer price index to be released on Thursday and Friday.
- BoE monetary policy –
Bank of England’s (BoE) monetary policy decision is the most important scheduled event since it will be the central bank’s first policy meeting since the referendum vote. Mr. Carney has already hinted at additional easing ahead. Though most likely month for any such easing is August, the central bank may surprise in July too.
