Fed Minutes, Walmart Earnings, and UK Inflation Set for Market Showdown

The week ahead in markets is set to be pivotal as investors assess key indicators for US interest rates, UK inflation, and consumer demand. The Federal Reserve's minutes on Wednesday, August 19th, will likely dominate attention, with markets looking for signs of how policymakers are thinking about interest rates.

USD/JPY is one market to watch, having recovered from intervention by the US and Japan and moved above its 10-day exponential moving average. Higher longer-term interest rates have supported the dollar, but a softer interpretation of the Fed minutes could weaken this momentum. A move above ¥160.50 would strengthen the current technical picture.

Walmart reports its fiscal second-quarter 2027 results on Thursday, August 20th, with earnings expected to reach $0.74 per share, up 9.1% from a year earlier, and revenue forecast to rise 5.3% to $186.9 billion. The market will also focus on Walmart's outlook for the third quarter, which currently points to earnings of $0.68 per share, up 9.8%, and revenue of $188.3 billion, representing growth of 5%.