Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The rest of the week is very quiet on the European data front, in lead up to the ECB’s meeting on July 21
Sweden Inflation (0700 BST)
A substantial 1.0pp jump to +8.3% y/y is anticipated for Swedish June inflation, with prices accelerating 1.0% m/m and keeping pace with May. This would eb the highest annualized inflation rate since July 1991. The Riksbank will as always be paying close attention to the CPIF core reading, which is seen ticking up 0.4pp to +5.8% y/y.
Monday’s minutes from the June 50bp-hike meet highlighted that the Riksbank is prioritizing controlling inflation over downside growth risks.
Turkey Industrial Production (0800 BST)
A small 0.3% m/m contraction is on the cards for Turkey’s May industrial production print, after flatlining the month before. Compared to last year, production remains buoyant and is anticipated to have grown by 8.0% (easing from +10.8% y/y in April). Mining and manufacturing will likely again be the key growth drivers.
Canada Manufacturing Sales (1330 BST)
Manufacturing is projected fall in May, with sales expected to contract by 2.4% m/m, following April’s 1.7% m/m expansion. This would be close to initial estimates of -2.5% m/m, the largest decline since the onset of the pandemic in 2020. Falling sales in the auto industry have been largely accountable for the decline.
US Producer Prices (1330 BST)
PPI is seen edging down by 0.1pp to +10.7% y/y, whilst holding steady at +0.8% m/m. Core factory-gate inflation is pencilled in at +6.6% for June, a 0.2pp slowdown from May.
After US CPI hit a 1981 high of 9.1% y/y yesterday, markets will be looking for signs of continued acceleration in the factory-gate inflation print as energy price inflation remains acute.
Thursday sees Treasury Secretary Janet Yellen and Fed Governor Christopher Waller making appearances today.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 14/07/2022 | 0600/0800 | *** |  | SE | Inflation report |
| 14/07/2022 | 0600/0800 | * |  | DE | Wholesale Prices |
| 14/07/2022 | 0800/0400 |  | US | Treasury Secretary Janet Yellen | |
| 14/07/2022 | 1230/0830 | ** | | US | Jobless Claims |
| 14/07/2022 | 1230/0830 | *** | | US | PPI |
| 14/07/2022 | 1400/1000 | ** | | US | WASDE Weekly Import/Export |
| 14/07/2022 | 1430/1030 | ** | | US | Natural Gas Stocks |
| 14/07/2022 | 1500/1100 | | US | Fed Governor Christopher Waller | |
| 14/07/2022 | 1530/1130 | ** | | US | US Bill 04 Week Treasury Auction Result |
| 14/07/2022 | 1530/1130 | * | | US | US Bill 08 Week Treasury Auction Result |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.