The coming week will be extremely light with respect to scheduled risk events.
At its July meeting, UBS Chief Investment Office (CIO) expects the Bank of Canada to either hike or prepare markets for a rate hike later in the year. Consumer price inflation will be reported for China and Norway on Monday, Sweden and Germany on Thursday and the US on Friday. Price pressure in Sweden is rising, but has been flat in the US for the past several months. CIO expects the trend to continue and pressure the USD and lift the SEK. Solid retail sales data on Friday would unlikely change that trend.