The Week Ahead - 7 - 11 July 2025
These are the Key Macro Events for the upcoming week.
United States – Next week all is quiet on the data front, but not on the policy front. July 9 marks the end of the reciprocal tariff pause. We've only seen a few 'trade deals' during this 90 day pause. For the upcoming week, options include a further delay, a full implementation, a set of trade agreements without much detail, or combinations thereof. The US appears to be steering towards at least a 10% tariff, with counterparties predominantly looking for concessions on various sectoral tariffs. The ultimate outcome is highly uncertain and likely to grab some headlines.
China – On Wednesday, ongoing deflationary pressures reflecting subdued domestic demand are expected to be confirmed by CPI inflation for June remaining close to 0% and PPI inflation remaining deeply in negative territory.