Here’s your look at what’s happening in markets in the coming week
It’s a big week for central banks, with policymakers in the United States, Japan and Britain all due to reconsider lending rates and markets on edge over more earnings from U.S. tech giants., from Kevin Buckland in Tokyo, Ira Iosebashvili and Rodrigo Campos in New York and Amanda Cooper in London.The steep selloff in markets in recent days is shining a spotlight on the Federal Reserve, which concludes its July monetary policy meeting on Wednesday.
Microsoft is scheduled to report earnings on Tuesday, followed by Facebook-parent Meta on Wednesday and Apple and Amazon on Thursday. Disappointing numbers could re-ignite the worries that caused a crushing selloff in U.S. stocks on Wednesday, when both the S&P 500 and Nasdaq suffered their worst day since late 2022.
The fact that the currency has rebounded by a staggering 10 yen per dollar from three-decade lows at the start of the month hasn’t deterred some from predicting a July hike. They argue the BOJ can get the most bang for its buck by hiking into a rallying yen. Others worry a fragile economy and weak consumer sentiment couldn’t weather higher borrowing costs, with slowing U.S. growth set to have a knock-on effect already.
British consumers might be feeling the pinch of interest rates at more than 14-year highs, but banks have certainly reaped the benefits. Markets will watch results from HSBC, Barclays and Standard Chartered to get a sense of how well they are likely to fare when borrowing costs, and the profit they make on them, start to fall.Venezuelans will elect a president on Sunday.
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