June 6th - June 15th, the most important week of the world economy in 2018

Public at: 15/06/2018 01:05:43

According to Bloomberg, with the US-China summit, trade tensions and important central bank meetings, this week may be the most significant week for the world economy in the year. 2018.

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June 6th - June 15th, the most important week of the world economy in 2018

Investors will have more information to assess the results of the G7 summit in Canada last week. The meeting ended with the US President, Donald Trump, vehemently criticizing his allies via Twitter, refusing to support the joint declaration, raising the possibility of a new commercial tsunami.

Trump and North Korean leader Kim Jong Un will hold a historic summit in Singapore. Last week, Trump predicted the meeting would be a "great success" and said he could sign an agreement with Kim Jong Un to formally end the Korean War. In Washington, the US government will publish a monthly report on inflation - a measure of whether the US economy is growing hot.
In the UK, Prime Minister Theresa May will also submit the Brexit bill to the House of Commons, after being amended 15 times in the Senate. On the two days of debate and vote (Tuesday and Wednesday), the key questions will be around how the British Parliament decides on the final Brexit deal and whether Britain should remain in a customs union.

The US Federal Reserve (FED) plans to raise the dollar interest rate for the second time this year. Fed Chairman Jerome Powell and his colleagues will announce new forecasts, suggesting that the Fed will signal a four-fold increase in interest rates this year instead. as 3 times as predicted in March.
At the same time, Argentina Central Bank is also expected to keep the basic interest rate at 40% currently, to stabilize the exchange rate of the peso.
On the same day, the Italian government bond auction was seen as an opportunity to gauge market reaction to the newly established populist government of Italy. In the UK, inflation data will help the Bank determine whether to raise interest rates.

The European Central Bank may first officially refer to the termination of the bond repurchase program. About one-third of economists surveyed by Bloomberg News said that President Mario Draghi would set a deadline for the termination, while 46% said Draghi would wait until the July meeting. out of specific deadlines.
Russian President Vladimir Putin will meet Arab Crown Prince Mohammed bin Salman at the opening of the 2018 World Cup. The meeting will likely affect the global oil market, as it is new. just one week before the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, will offer last-minute opportunities for the two leaders to discuss possible increases in oil production.
China will announce retail and industrial output data, with expectations of a better assessment of the strength of the world's second-largest economy.

On weekends, the BoJ may not signal any tightening monetary policy. BoJ is still executing a large-scale government bond purchase program in Japan, and is expected to maintain the program, as data shows that inflation in Japan is much lower than target 2. %, while GDP declined in the first quarter.
June 15 is also the deadline for the United States to publish a final list of Chinese products subject to US tariffs on $ 50 billion of goods, which may soon come into effect. On the same day, Russia's central bank will raise interest rates, but it is unlikely that the basic ruble interest rate will remain unchanged at 7.25%.
[Source: www.bloomberg.com]
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