15 July 2024 Events: ECB Decision, RNC, Earnings & More

The week of July 15, 2024, has arrived, bringing with it numerous financial, economic, and political events that could significantly impact the financial markets and offer crucial information to traders, consumers, and analysts.

Let’s take a look at this week ahead:

The Four-Day Republican National Convention (RNC)

Just a few days after former US President Donald Trump survived an attempted assassination at a rally in Pennsylvania, today, Monday, 15 July, marks the start of the Republican National Convention (RNC) in Milwaukee. In this event, Trump is expected to receive his party’s official US election nomination and to deliver a speech.

While the US elections are scheduled to take place on Tuesday, 5 November 2024, and their results and effects on the financial markets are yet to be determined, some experts like Jim Cramer believe that a Trump presidency could positively affect the stock market. Cramer also notes that Trump is “amiable to gas and oil,” which could affect energy stocks, particularly the energy market. On the flip side, Trump is expected to impose stricter trade regulations with China, which could intensify the US-SINO tensions already present. 

Only time will tell who will become the president of the world’s biggest economy and how the markets will react. (Source: CNBC)

Fed Speech: What Will Powell Reveal?

Besides the elections, this week marks an important one for the US economy as Fed Chair Jerome Powell is expected to be interviewed at the Economic Club of Washington, DC. Following his last speech, Powell revealed that the US economy is tackling inflation (despite the drop in inflation levels). It will be interesting to see what Powell will reveal, especially ahead of the Fed’s upcoming monetary policy meeting on 30-31 July.

Other Data From the US

Besides the above, traders and consumers may want to keep tabs on the following US financial and economic events and earnings releases:

Tuesday, 16 July

• Retail Sales

• Import/Export Prices

• Business Inventories 

• Housing Market Index 

• Amazon Prime Day

• Morgan Stanley (MS), Charles Schwab (SCHW), UnitedHealth (UNH) Earnings 

 Wednesday, 17 July

• Housing Starts

• Federal Reserve Beige Book Report

• Industrial Production and Capacity Utilisation 

• US Bancorp (USB) and Johnson & Johnson (JNJ) Earnings

Thursday, 18 July

• Fed Remarks from Dallas Fed President Lorie Logan, Fed Reserve Governor Michelle Bowman, and San Francisco Fed President Daly

• Netflix (NFLX), Abbot (ABT), and TSMC (TSM) Earnings

Friday, 19 July 

• Remarks from Atlanta Fed President Raphael Bostic and New York Fed President John C. Williams

• The Travelers Companies (TRV), American Express (AXP), Halliburton (HAL)

European Central Bank (ECB) Rate Decision: What’s Next for the Eurozone’s Economy?

The European Central Bank (ECB) is expected to announce its interest rate decision on Friday, July 19. Following its meeting in June, whereby this central bank cut rates for the first time since 2019, this time around, the ECB is expected to hold rates unchanged. 

It is worth considering what the Eurozone’s economic trajectory will look like and how the decision will influence the financial markets.

Other Releases Worldwide

Other releases this week include the following:

• Eurozone and UK CPI on Wednesday, 17 July

• Japan CPI Thursday, 18 July

Final Thoughts

The week of 15 July 2024 is packed with crucial information stemming from economic events, releases, and reports. As such, keeping track of this week’s results may be helpful to those seeking to better understand the overall economy.