The US consumer price index and Japan's Corporate Goods Price Index are due next week, while attention will also focus on the Bank of Japan's Summary of Opinions and the Reserve Bank of Australia's policy rate decision.
The Bank of Japan is due to release its July Summary of Opinions next week. While rates are expected to remain on hold, reports suggest that the statement could be somewhat hawkish, with Takata (高田) reportedly the only member calling for a rate hike. In the US, the consumer price index is due to be released, and the possibility of a September rate hike could come back into focus depending on remarks by Fed Chair Warsh. Japan's Corporate Goods Price Index is expected to accelerate, reflecting cost pass-through, AI demand and yen weakness against a backdrop of falling crude oil prices. The Reserve Bank of Australia's policy rate decision is expected to leave rates unchanged as inflation slows, although the statement could remain hawkish.
On the calendar, the Bank of Japan's Summary of Opinions from its 30–31 July meeting and Japan's June trade balance are due on the 10th. The 11th is scheduled to bring the Reserve Bank of Australia's policy rate decision, quarterly economic forecasts, Governor Bullock's press conference, a US 3-year Treasury auction and reports from the New York Fed. On the 12th, Japan's 10-year inflation-linked JGB auction, a US 10-year Treasury auction and the US July consumer price index are due. Japan's July Domestic Corporate Goods Price Index and the US July producer price index are scheduled for the 13th, followed by US retail sales and the University of Michigan Consumer Sentiment Index on the 14th.