Trade war narratives dominated markets for another week, yet investor sentiment remained intact and global currencies ended somewhat unchanged with a few exceptions.

Despite the expectation that the newly-imposed tariffs will affect inflation in the near future, investors did not appear as concerned as the weakening of oil prices took the edge off, at least for now.

With Yen and Franc dovish, positive sentiment may remain in the markets this week, which is likely to mostly reflect on the said currencies and not broadly.

July 16th, Monday

US Retail Sales expected to slow down. Release is due at 12:30 GMT, same time that the Empire State Manufacturing Index is expected.

July 17th, Tuesday

New Zealand Inflation, RBA minutes, UK Labour and Fed Chair Powell’s testimony before Congress likely to dominate markets and keep traders at the ready.

July 18th, Wednesday

Investors eye UK and EU Inflation figures. On the US side, Building Permits and Fed Chair Powell’s testimony before the Financial Services Committee and EIA’s stocks report are due.

July 19th, Thursday

Australian Employment expected to grow, yet UK Retail Sales expected to slow down following a positive month and an upward revision.

US Manufacturing and Unemployment Data also scheduled in.

July 20th, Friday

Canadian Inflation and Retail Sales on the spotlight, G20 Meeting kick-off but investors could look for opportunities in UK’s Public-Sector Net Borrowing.