Macro Outlook for Next Week: "Crypto Week" has come to a perfect end, and Powell will appear under heavy pressure
PANews reported on July 19 that as the Federal Reserve is about to enter a silent period, Waller, the current governor and a popular candidate for the next Federal Reserve chairman, reiterated his support for a 25 basis point rate cut in July, and data showed that consumers' expectations for inflation have improved. At the same time, trade tensions between the United States and the European Union continue, with Trump pushing for a minimum tariff of 15%-20% on all EU goods and planning to announce tariff plans for specific industries by August 1. In addition, the twists and turns of "Cryptocurrency Week" came to a perfect end after Trump signed the Stablecoin Act as scheduled. Bitcoin refreshed its all-time high to more than $123,000 this week, and Ethereum once stood at $3,600 on Friday, outperforming Bitcoin for the fourth consecutive week. The following are the key points that the market will focus on in the new week:
At 22:00 on Monday, the U.S. Conference Board Leading Index monthly rate for June
At 20:30 on Tuesday, Federal Reserve Chairman Powell delivered a welcome speech at a regulatory meeting;
At 1:00 on Wednesday, Federal Reserve Board Governor Bowman will host a fireside chat at the Federal Reserve's large bank capital framework conference;
Wednesday TBD, US President Trump speaks at an event titled “Winning the AI Race”;
At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending July 19;
For the U.S., prices and employment components may attract extra attention. Analysts at ABN Amro said that "as the final shape of the U.S. tariff regime remains unresolved, the recent mild inflation trend certainly does little to reduce uncertainty about the ultimate impact of Trump's trade policies on inflation."
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