Developments in the Ukraine crisis remain the main market mover and it seems no news is good news, giving way to a further rebound in risk assets. However, a re-escalation could turn around risk appetite fast.
Both Bank of England and the Fed release minutes. In the minutes from the Bank of England meeting in July the market will focus on whether the committee voted unanimously. Speculations of a dissent in voting have especially been fuelled after BoE governor Mark Carney on Sunday night said that the central bank could hike rates before wages increase.
Minutes from the latest Fed meeting could also prove interesting. It was the meeting where the Fed made a hawkish twist on inflation and lifted the end-2016 projection from 2.25% to 2.5%. Also, comments after the meeting suggest that the committee turned more hawkish. Fed hawk Richard Fisher said in an interview that the reason he did not dissent was because he saw movement in the committee in his direction.
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