Investing.com -- U.S. retail sales data will be scrutinized as investors try to assess the impact of higher interest rates on the economy. Investors will also get a chance to hear from several Federal Reserve policymakers during the week. The Bank of England is to meet, along with central banks in Switzerland, Norway and Australia. Here’s your look at what's happening in markets for the week ahead.Investors trying to get a handle on the strength of the U.S.
Last week the Fed reiterated that it needs to see more evidence of cooling inflation before lowering borrowing costs. Still, recent data continues to underscore the need for further stimulus from policymakers with the loan prime rate decision due on Thursday.on Thursday and will likely dash any hopes the ruling Conservative party had of a pre-July 4 election rate cut. Markets now expect easing later rather than sooner, pricing a roughly 40% chance of an August quarter point move and a 70% chance in September with pay and services inflation sticky.
Lagarde dodged a question about turmoil in French financial markets on Friday, merely saying the ECB would deliver on its inflation target. The U.S. Energy Information Administration upgraded its oil demand growth estimate for 2024 slightly, and the Organization of the Petroleum Exporting Countries stuck to a forecast for relatively strong growth of 2.2 million barrels a day .However, all three forecasters predicted a supply deficit at least until the beginning of winter, Commerzbank analysts pointed out.
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Source: CNBC - 🏆 12. / 72 Read more »