The week promises to be mainly driven by a macro data, while the major quarterly figures are still in the making. The main focus is the development of the Delta variant of the coronavirus.
In the UK, this is now the dominant variant, which has delayed the further opening of the UK economy by at least four weeks. The rate of vaccination and the willingness of people to take the vaccine remains crucial for the further course of the economic recovery.
Monday starts the week quietly with just one figure from the Chicago Fed. On Tuesday, the Dutch Central Bureau of Statistics will publish a series of figures and there will be a confidence figure from the eurozone and a housing figure from the US.
Halfway through the week it is time for the preliminary purchasing managers indexes again and a further figure on the US housing market will follow. Weekly oil stocks are also on the agenda.
Thursday is probably the most important day of the week. There are growth figures from the Netherlands and the US, confidence figures from France and Germany, weekly support requests from the US, as well as orders for durable goods in America. However, the Bank of England’s interest rate decision is likely to be most awaited.
Last week it was already the turn of the US Federal Reserve, which appears to be “cautiously moving towards a tightening of monetary policy”.
Markets takes into account a firm announcement from the Bank of England, where Chief Economist Andy Haldane attends his final interest rate decision. The central bank might hit the brakes.
On Friday, German consumer confidence will be presented and data on Joe Sixpack’s personal income and spending and US consumer confidence will be presented from the US.