This week's key events and data preview: China's July economic data, Bank of England interest rate decision, and the implementation of US "reciprocal tariffs"
1. Monday: ① Data: Eurozone Sentix Investor Confidence Index for August; US Factory Orders for June. ② Earnings: Palantir (after US markets close). 2. Tuesday: ① Data: China's July S&P Global Services PMI; final July Services PMIs for the UK, France, Germany, and the Eurozone, and the Eurozone's June PPI; US June trade balance, final July S&P Global Services PMI for the US, and the US July ISM Non-Manufacturing PMI. ② Event: Saudi Aramco announces its official crude oil selling price around the 5th of each month. ③ Earnings: Pfizer (before US markets open), AMD, Lucid, and Rivian (after US markets close). 3. Wednesday: ① Data: US API and EIA crude oil inventories for the week ending August 1, US Global Supply Chain Stress Index for July; Eurozone retail sales for June. ② Earnings: Walt Disney and McDonald's (before US markets open). 4. Thursday: ① Data: China's July trade balance and foreign exchange reserves; Germany's June seasonally adjusted industrial output and trade balance; France's June trade balance; Switzerland's July seasonally adjusted unemployment rate; UK Halifax house price index for July; Bank of England interest rate decision for August 7; US 10-year Treasury auction for the week ending August 6; US initial jobless claims for the week ending August 2; US wholesale sales for June; US EIA natural gas inventories for the week ending August 1; US New York Fed one-year inflation forecast for July. ② Events: The US begins implementing "reciprocal tariffs"; the Bank of England releases its interest rate decision, meeting minutes, and monetary policy report; San Francisco Fed President Mary Daly, a 2027 FOMC voting member, delivers a speech; Atlanta Fed President Raphael Bostic, a 2027 FOMC voting member, participates in a virtual fireside chat on monetary policy with the Florida Association of Chief Financial Officers. ③ Financial reports: China Mobile and SMIC. 5. Friday: ① Data: China's July M2 money supply annual rate; Japan's June trade balance; France's second-quarter ILO unemployment rate; Switzerland's July consumer confidence index; Canada's July employment figures. ② Events: The US hopes the Russia-Ukraine conflict will end before August 8; the Bank of Japan releases a summary of the opinions of its July monetary policy meeting board; 2025 FOMC voting member and St. Louis Fed President Moussallem delivers a speech; the 2025 World Robot Expo opens in Beijing. 6. Saturday: ① Data: US oil rig count for the week ending August 8; China's July CPI annual rate. ② Event: The CFTC releases its weekly positions report.