The big crude oil monthly report hit this Wednesday, the Bank of Canada is expected to raise interest rates
During the week of July 9-13, a number of heavy events will come one after another. On the one hand, OPEC, IEA and EIA will publish crude oil monthly reports, which are expected to have an impact on the oil market; on the other hand, the United States will release heavy data such as CPI and PPI, which is expected to have an impact on the foreign exchange market and the gold market.
In terms of global central banks, the Bank of Canada will announce interest rate resolutions this week. The interest rate futures market pricing shows that the probability of raising interest rates by the Bank of Canada is as high as 80%. Under the premise that the Bank of Canada is expected to raise interest rates, if the Canadian bank does not raise interest rates or release dovish speech, it will suppress the Canadian dollar.
In addition, this week there are a number of Fed officials including Fed Chairman Powell, in addition to the European Central Bank will also announce the minutes of the June meeting, need to pay close attention to whether the central bank's wording will have important changes.