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Key events to watch this week

US markets will observe a closure on Monday in observance of the Juneteenth holiday, with trading set to resume on Tuesday (Wednesday AEST). While US investors take a day off, the Australian market will focus on key events and announcements scheduled for the week.

On Tuesday, all eyes will be on the Reserve Bank of Australia (RBA) as it releases the minutes of its June monetary policy meeting at 11:30 am AEST. Market participants will scrutinise the minutes for any insights into the central bank’s outlook on the economy, inflation, and future policy actions. At the same time, Assistant Governor Christopher Kent will take part in a panel discussion at the ISDA/AFMA Derivatives Forum in Sydney, providing further perspectives on the financial landscape.

Later in the day, Deputy Governor Michele Bullock is scheduled to address the AI Group in Newcastle at 1:30 pm AEST. Her remarks will shed light on various economic aspects and may offer additional context to the RBA’s policy considerations.

Looking ahead, the next RBA policy meeting is slated for July 4, where policymakers will gather to discuss and potentially adjust interest rates and other monetary measures based on the prevailing economic conditions and outlook.

Internationally, Federal Reserve Chairman Jerome Powell will deliver his semiannual testimony to Congress on Wednesday (Thursday AEST). His remarks will be closely monitored by market participants for any indications of the Fed’s stance on monetary policy, economic recovery, and potential measures to address inflation concerns. Additionally, a number of Fed governors and policymakers are scheduled to speak throughout the week, collectively reinforcing the narrative that higher interest rates may be necessary to combat persistent core inflation.

As global markets await these significant events and statements, investors will closely analyse the outcomes and remarks for potential impacts on monetary policies, market sentiment, and future investment strategies.