Prepare For "The Most Important Week Of The Year"

Zero Hedge | 6/10/2018 | Staff
urbanpatrioturbanpatriot (Posted by) Level 4
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It's supposed to be a week when many in Europe are on their to, if not already at, their first summer vacation, while Wall Streeters are enjoying the lovely weather and debating whether to stay in the Hamptons a little bit longer. Well they won't, because as Bank of America's FX strategists preview, the coming week "could be the most important week of the year."

Here's why: from the next round in the escalating trade war in the post-shocking G7 world which has seen Trump and Trudeau engage in a "low brow" fight, to the historic Trump-Kim summit, to the all important US CPI report (the US economy is now on the verge of overheating), to the UK parliament's Brexit vote, to no less than three major central bank announcements from the ECB, BOJ and FOMC, of which the latter is expected to delivers its latest rate hike, the 7th of the cycle, while Draghi may announce the end of QE, from continued deterioration in Italian markets and the latest Italian bond auction especially following the latest "deposit flight" Target2 data, to Vladimir Putin meeting with Saudi Crown Prince Mohammed bin Salman at the opening game of the World Cup soccer tournament potentially moving the oil-market, it will be a non-stop bonanza of one market-moving headline to the next.

Speaking - BofA - Preview - Bank - Week

And speaking of BofA's preview, this is how the bank describes some of this week's key catalysts:

In our view, the ECB has decided to announce in June how QE will end for three reasons. The QE program will end for sure this year, because of technical constraints, so there is no reason to keep the uncertainty and give a false impression that extending QE to 2019 remains an option. Following the market turmoil from Italy last week, the ECB has strong incentives to...
(Excerpt) Read more at: Zero Hedge
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