In the European session, we have the French and Spanish Flash CPI readings coming up. The data is unlikely to change much for the ECB as they are taking a summer pause to get a better picture of inflation and economic activity.
In the American session, there's the Canadian GPD, the US PCE price index and the final UMich data. None of this data should change anything for the BoC or the Fed. The BoC is taking a longer pause to see how the data evolves in the next months, while the Fed (and the market) is more focused on the June CPI report coming up in two weeks rather than the May PCE which is already known.
The final UMich report shouldn't be market-moving but further easing in inflation expectations shouldn't be bad for the current positive risk sentiment.
Central bank speakers:
- 11:30 GMT/07:30 ET - Fed's Williams (neutral - voter)
- 13:15 GMT/11:15 ET - Fed's Cook (neutral - voter)
- 13:15 GMT/11:15 ET - Fed's Hammack (neutral - non voter)
