23rd Jun - Weekly Previews #4119

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World Economy Weekly – BB

Easy Does It Across Global Central Banks in 2019’s Busiest Week

Take Five: World markets themes for the week ahead – Reuters

TRUMP AND G19 * REALLY FED UP * SHOW ME THE INFLATION * FOLLOW ME, FOLLOW YOU * CAN WE HAVE A SUMMER LULL, PLEASE?

EcoWeek – BNP PARIBAS

ECB President Mario Draghi, speaking at Sintra, has raised expectations of renewed policy easing. The message from the FOMC meeting is that rate cuts are coming. This policy synchronisation reflects shared issues (inflation too low versus target) and shared concerns, the major being rising uncertainty. Should this continue, the effectiveness of monetary accomodation will suffer.

Global Week Ahead – Scotiabank

The G20 meeting in Osaka, Japan on Friday into Saturday has the potential to be the week’s showstopper * Considerable Fed-speak next week, but none of it will be informed by the G20 outcome * Eurozone CPI

Week Ahead – Ransquawk

Week Ahead – Nordea

Weaker global growth not primarily about the trade war * Foundation for a recovery coming into place, but a 2020 story not a 2019 story * Xi, Trump, and Rocket Man G-20 meetings won’t amount to much

Weekly Focus – Danske Bank

This week's highlight is the much awaited Trump-Xi meeting at the G20 meeting on Friday - Saturday. Odds are rising for a ceasefire (again) in the trade war. It is a slow week for global data, with the most important figure being the euro inflation print on Friday. The change in central bank tunes will be the talk of the town in financial markets.

Macro Weekly – ABN AMRO

First reaction to re-escalating trade war visible * Korea hit by more than the trade war? * Central bankers promising (much) more easing

Week ahead – FT

 

China Weekly – Danske Bank

Xi-Trump phone conversation raises the probability of a trade war ceasefire at the G20 meeting. We now see slightly more than 50% chance of this happening * US tech companies warn their competitiveness will be hurt by higher tariffs. Huawei puts price tag on US export ban: USD30bn. * CNY and equity markets get a lift from trade hopes and dovish Fed.

Weekly Market Summary – The Fat Pitch

Government Bonds Weekly – Danske Bank

Go for higher 5y German break-evens as a protective trade to flattening trades

Asia Week Ahead – ING

Yet another busy week ahead with a couple more central bank meetings lined up and a host of the usual month-end economic releases from across Asia. Investor anxiety about trade may grow ahead of the Trump-Xi meeting, which takes place alongside the G20 leaders' gathering

Key events in EMEA and Latam next week – ING

A relatively quiet week in EMEA and Latam. The information flow will be dominated again by central banks, particularly in Hungary and the Czech Republic. Both are expected to keep policy on hold

Key events in developed markets next week – ING

All eyes will be on the G20 Xi-Trump meeting next week, but even if both leaders are open to resuming talks, there are many bridges to cross before a deal is struck. We're confident that a resolution will eventually be reached though, which limits the need for agressive Fed rate cuts

Weekly Market Comment – Marc Chandler

Central banks are prepared to take fresh measures to strengthen and extend the business cycle primarily because price pressures are below what their predecessors thought would be acceptable levels.

FX Weekly – Nordea

We find markets too upbeat ahead of the G20 meeting next week, as we view the Hong Kong demonstrations and the Iran-turmoil as escalating US vs. China proxy conflicts. Position for a negative surprise – e.g. via long EUR/NOK in FX space.