Monday, July 25: After the ZEW investor sentiment index release this past week showed that the mood of German shareholders plunged in the wake of the U.K.’s decision to depart the European Union, the IFO business leader survey data scheduled for release by CESifo Group will be watched for any confirmation that business leaders in the nation are equally downbeat. The International Monetary Fund has projected that Brexit stands to dampen the pace of growth in Germany and the rest of the EU, though the long-term impact will be limited.
Tuesday, July 26: The Bank of Korea releases initial second-quarter Korean GDP figures. Analysts at Korea’s central bank lowered growth projections earlier this month, indicating that an annual growth rate of 2.7 percent is likely for 2016, a step down in light of the potential impact on global trade of the U.K.’s departure from the European Union. Despite the concerns, policymakers at the central bank have kept the benchmark interest rate at a historic low of 1.25 percent.
Wednesday, July 27: Banco Santander, Spain’s largest bank by assets, reports financial results. The release will likely include a discussion of the bank’s settlement with consumer finance regulators in the U.S. earlier in the month. Last week the bank revealed more of its vision for the future when it announced a doubling of its original $100 million investment into InnoVentures, the bank’s London–based venture capital fund dedicated to fintech startups.
Thursday, July 28: Lollapalooza 2016 kicks off in Chicago. Sponsoring Austrian beverage manufacturer Red Bull secured rights to broadcast portions of the event online live for the third consecutive year as part of its long-time marketing strategy to reach young consumers. Festival headliners this year include Jane’s Addiction — the very 1990s rockers who created the first Lollapalooza festival 25 years ago.
Friday, July 29: In the wake of incumbent Prime Minister Shinzo Abe’s decisive victory in the July 10 national election and deteriorating economic data indicators, the monetary policy announcement from the Bank of Japan will be closely watched for any change in course. The U.S. dollar has been making significant gains against the yen as more investors have been wagering that Bank of Japan governor Haruhiko Kuroda will unveil an increase in the bank’s quantitative easing program and possibly, expand its experiment with negative interest rates.
