In an otherwise relatively quiet week in which the only upcoming US data is housing, current account and jobless claims, UK politics will again draw attention, one year (on Friday) after the Brexit referendum and as noted earlier, Brexit negotiations begin on Monday, despite lingering political uncertainty in the UK. Also no less than 9 FOMC members are scheduled to speak this week.
On Wednesday the Queen's Speech will mark the opening of parliament and outline the government's legislative program, despite no formal agreement between the Conservative Party and the DUP (at time of writing). Bank of England speakers will also get attention after last week's surprisingly hawkish BOE, particularly Governor Carney's re-scheduled Mansion House speech. Overall we could see a headline-heavy week, making for a volatile period ahead for GBP.
A quick snapshot of what to expect:
A breakdown of the key events in the week ahead courtesy of Deutsche Bank:
Finally, here is a look at what to expect in the US, where the key economic releases this week are existing home sales on Wednesday and new home sales on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week. Goldman provides the commentary, and consensus expectations.
Monday, June 19
Tuesday, June 20
Wednesday, June 21
Thursday, June 22
Friday, June 23
Source: GS, BofA, DB