ECB and German ZEW amongst market movers next week – ING

Research Team at ING, suggests that nothing new is expected from the ECB next week, as it is too early to react to any real economic impact from Brexit, but also perhaps too late to tackle the immediate market reaction.

Key Quotes

“The German ZEW index should be closely watched, as it will be the first confidence indicator release post-Brexit, shedding some light on the potential short-term impact on the Eurozone.

In Turkey, the CBT is expected to consider a 50bp cut in the upper band in July. The further drop in annual core inflation and ongoing TRY strength should support such a move.

For Poland, retail sales data should be strong. Deflation at producers' level should slightly decelerate, given the June increase in oil prices.”