PriceAction Ltd. Market Report (July 11 – July 15) & Upcoming Events, July’22

Jul 11 , 2022

Boj Will Maintain Ultra-Loose Monetary Policy (JPY)

Bank of Japan Governor Kuroda says, although the state economy has been facing some minor challenges, the trend is picking up consistently. However, on the next day, the finance minister, Suzuki, mentioned the vivid visibility of the Yen weakening.

Jul 13 , 2022

Monetary Policy PRESS RELEASE (ALL)

“Today, we raised the policy interest rate by 100 basis points or 1%. An increase of this magnitude at one meeting is very unusual. It reflects very unusual economic circumstances: inflation is nearly 8%—a level not seen in nearly 40 years.”

Reason 1 – High inflation 

Reason 2 – Canadian economy is overheated

Reason 3- To  get inflation back to its 2% target, policy has increased interest rates to prevent high inflation from becoming entrenched.

Day later update – The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 2.50 percent.

Euro Hits Parity vs U.S. Dollar for First Time Since December 2002 (All)

Ex-BOJ Executive Yamaoka: The BOJ may need to adjust the yield cap if inflation keeps overshooting forecasts, weakening Yen.

CPI: Inflation rose 9.1% in June (USD)

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today.

July 14, 2022

 Rapid Yen Weakening (JPY)

Producer Price Index News Release (USD)

At least 1,000 consumers were at the mall when a Russian missile hit, President Volodymyr Zelenskyy described as “one of the most disastrous terrorist attacks in European history”. Russian long-range bombers launched a missile into a mall in Kremenchuk, Poltava, killing 18 and injuring 59, the regional governor stated.

Consumer Confidence Falls (USD)

The Conference Board Consumer Confidence Index® decreased in June, following a decline in May. The Index fell to 98.7 (1985=100)—down 4.5 points from 103.2 in May—and now stands at its lowest level since February 2021 (Index, 95.2).

economic news release

July 15, 2022

Board Forecast Couldn’t Predict the US Retail Sales Rise (HKD)

The value of overall retail purchases increased 1%, after an upwardly revised 0.1% decline in May, Commerce Department figures showed Friday. The figures aren’t adjusted for inflation.

The median estimate in a Bloomberg survey of economists called for a 0.9% advance in overall retail sales from a month earlier.

Ex-BOJ Executive Speaks (JPY)

Ex-BOJ Executive Yamaoka: The BOJ may need to adjust the yield cap if inflation keeps overshooting forecasts, weakening Yen.


July 18, 2022

CPI q/q (NZD)

July 20, 2022

Monetary Policy Meeting Minutes (AUD)

BOE Gov Bailey Speaks (GBP)

July 21, 2022

BOJ Outlook Report (JPY)

Main Refinancing Rate (EUR)

July 22, 2022

German Flash Manufacturing PMI (EUR)

Flash Services PMI (USD)

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