Central Banks and Tech Giants Face Key Week Amid Inflation Fears

The global financial markets are preparing for a crucial week of central bank decisions and economic data releases. The Federal Reserve, Bank of England, and Bank of Japan will announce their interest rate decisions in succession, with the market expecting further policy tightening in response to rising energy prices and inflation expectations.

The US will release a flurry of data, including preliminary second-quarter GDP, the June Personal Consumption Expenditures (PCE) price index, durable goods orders, consumer confidence, and the second-quarter Employment Cost Index. China's official manufacturing PMI for July and the Eurozone's preliminary second-quarter GDP and July inflation data will also be released.

The US stock market's second-quarter earnings season will enter its most critical phase with Microsoft (MSFT), Meta Platforms (META), Apple (AAPL) and Amazon (AMZN) reporting their earnings within a two-day span. Other tech giants, including Boeing (BA), Visa (V), Coca-Cola (KO), Ford Motor (F), United Parcel Service (UPS), Starbucks (SBUX), ExxonMobil (XOM) and Chevron (CVX), will also report their earnings in succession.