Weekly Outlook: July 08 — July 12: Fed’s Powell Testifies, BoC Decides on Rates

The main event on this week’s agenda is likely to be Fed Chair Powell’s testimony before Congress, as following Friday’s strong NFPs, investors are scratching their heads to figure out by how much is the Fed willing to cut rates. With regards to central bank decisions, we have a BoC meeting. We believe that the BoC will hold rates steady and reiterate its data dependency, staying among the few major Banks that have not turned their eyes to the cut button yet. The minutes from the latest FOMC and ECB policy gatherings are…