Key events ahead – Westpac

Key events ahead – Westpac
FXStreet (Guatemala) – Westpac Global Strategy Group explained the days events to wrap up the week.

Key Quotes:

“The regional calendar is low key, and Singapore is out for a holiday. We will have China June 70 city property prices on Sun. This has been showing that prices in the core cities have stabilised.

The risks around Greece in the near term have fallen. The Bundestag still needs to approve the measures today to begin negotiations on the third bailout package, which would last 3 years. German finance minister Schaeuble has continued to support the idea of a temporary Grexit, though this is unlikely to impact decisions this week. The EU-28 will meet later today and are expected to confirm the EUR7bn bridge loan to Greece ahead of the EUR3.5bn repayment to the ECB on Monday.

Consensus for US Jun housing starts is for a bounce of 6.7% after an 11.1% drop in May, which would bring starts back towards highs back to 2007 and continue the uptrend. Headline Jun CPI is expected to tick down to 0.3%m/m from 0.4%, though the y/y measure is forecast to rise to 0.1% from flat. Food and energy pressures have been limited and consensus for core is for a 0.2%m/m gain, 1.8%y/y. University of Michigan preliminary Jul consumer sentiment is forecast to hold at elevated levels of 96.0. We will see however if Greece has had any impact. We will hear from Fed vice chair Fischer on the Fed’s priorities and challenges.”
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Source: FXStreet