AFMC - The Week Ahead - ECB Spotlight As Fed Rate Speculations Drive Market Shifts
2024-07-13 00:30:00 ET
Summary
- US inflation data caused a significant selloff in US mega-cap tech stocks and a shift towards riskier areas of the market.
- The ECB interest rate decision is expected to bring no change, but the bank lending survey may shed light on the impact of higher rates on the economy.
- In the UK, inflation data is due on Wednesday, and while headline CPI dipped below 2% in June, it is expected to rise again in the second half of the year.
- In the US, the market will be quiet, with a speech by Fed Chair Powell being the most notable event.
By Zain Vawda
Week in Review: Rate cut bets weigh on tech stocks as US inflation cools
Another week is over, and market participants will undoubtedly have plenty of mixed feelings. The highlight of the week came on Thursday, when US inflation data was lower than expected, which has helped boost the confidence of individual FOMC members that inflation is on track to reach the Federal Reserve's 2% target....
The Week Ahead - ECB Spotlight As Fed Rate Speculations Drive Market Shifts