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Market Recap – Central Banks’ week

Monday, July 29, 2019 10:38 AM GMT

On Tuesday, Bank of Japan is having its monetary meeting, on Wednesday it is the turn of the FED and on Thursday, it is the turn of the Bank of England. Markets are already pricing in a US rate cut with a 78.6% probability so the focus turns to the Wednesday’s press conference. It remains to be seen if the expected rate cut would be a one-off move to boost the US economy, or the beginning of a new monetary loosening cycle.

As far as the earnings season is concerned, Apple and Mastercard are announcing their earnings on Tuesday, on Wednesday it is the turn of Qualcomm and  General Electric, on Thursday it is the turn of General Motors, United States Steel and  Motorola, on Friday it is the turn of Exxon Mobil, Chevron and MoneyGram.

Protests in Hong Kong continued for the 8th weekend in a row. Today, China's top Hong Kong policy office will address the issue in a press conference. Protests were triggered by a law allowing the extradiction of Hong Kong citizens to China. Note that the one country-two systems scheme ends on 2045.

Macro releases: No significant market moving release is expected today.

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