During the past week, the Greek situation had apparently regressed back into negotiation stalemate and media attention turned to China’s stockmarket slide. However, away from the media focus, the BRICS Bank was launched and Russia made a strategic overture to Greek business tycoons. This opened with an advancing Bitcoin price chart and, ironically, will feature several central bank announcements, as the global economy and political arena shifts poles before our eyes.
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In the Calendar This Week
Sunday 12 July saw Eurogroup meetings centered primarily around Greece, and they continue on Monday (featured below). China’s year-on-year Trade Balance came in at $46.5bil, down more than $10bil from the previous year.
Tuesday sees publication of UK annual Consumer Price Index (CPI) data that is expected to remain at 0.1%. US Core Retail Sales are expected to decrease from 1% to 0.7% and the Bank of Japan has scheduled a tentative Monetary Policy Statement, as well as a