On Tuesday, the highlight will be the RBA monetary policy announcement in Australia while on Wednesday, attention will turn to the RBNZ monetary policy announcement, followed later by the release of the FOMC meeting minutes in the U.S.
Throughout the week, some FOMC members are expected to deliver remarks.
Recent inflation data in Australia came in lower than expected at 2.1 y/y, printing just above the Bank's 2% target and below its own forecasts. While this is an encouraging sign, underlying inflation pressures remain a concern for the Bank, Westpac analysts said.
The RBNZ is expected to keep its monetary policy unchanged at 3.25% at this week's meeting. The Bank is likely to maintain a dovish stance for now and may avoid offering clear signals on the timing of future rate cuts.
In the U.S., jobless claims continue to provide a clear indication of the labor market’s gradual cooling. While layoffs remain relatively low, a steady rise in continuing claims suggests it’s taking longer for the unemployed to find new jobs.
Although the labor market hasn’t reached a critical point, Wells Fargo analysts caution that a sharper increase in claims could signal deeper challenges ahead. For now, payroll growth is expected to slow as trade pressures raise business costs and dampen demand.
Job losses have been largely concentrated in trade-sensitive sectors like manufacturing, particularly in Southern Ontario, while domestic-facing industries have remained more resilient.
Trade uncertainties remain, especially with the expiration of a 90-day pause on some U.S. tariffs approaching. However, the most disruptive scenarios now seem less likely, and Canada continues to benefit from key tariff exemptions under CUSMA, allowing most exports to enter the U.S. duty-free.
Wish you all a profitable trading week.
This article was written by Gina Constantin at www.forexlive.com. Read More Details
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