Trade tensions continue to affect market sentiment following the activation of US tariffs on Chinese goods last Friday. In return, China plans to respond by imposing tariffs on US goods.
Below are highlights of the most important economic data this week:
Tuesday - Australian Interest Rate Decision
The Reserve Bank of Australia is due to announce its interest rate decision on Tuesday morning and is widely expected to remain unchanged at 1.50%. Interest rates have remained unchanged for the last two years, and the policy statement has not changed significantly in recent months.
Wednesday - Federal Meeting Minutes
The Federal Reserve will publish the minutes of the latest FOMC meetings in which the bank raised interest rates to 2%, the second interest rate hike this year and currently markets priced in 75% rates hike for the third time in September.
Friday - US employment data
US employment data are usually released on the first Friday of each month and the markets will monitor the June data, especially wage figures. The economy is expected to add 200,000 jobs in June after adding 223,000 jobs in May, unemployment to stabilize at 3.8% and wages to rise by 0.3%.
