Weekly Global Market Preview: Fed signals, OPEC meeting and inflation updates drive sentiment

Global markets are set for another eventful week as investors assess the outlook for interest rates, inflation and economic growth across major economies. The release of the Federal Reserve's meeting minutes, the European Central Bank's policy accounts, key inflation data from Asia, and central bank decisions in New Zealand and Malaysia will dominate attention. Meanwhile, developments in U.S.-Iran negotiations and OPEC's production meeting are expected to influence energy markets and overall investor sentiment. Markets will closely watch the next round of U.S.-Iran talks scheduled for July 11, aimed at advancing the ceasefire framework and reopening the Strait of Hormuz. Meanwhile, OPEC's production meeting and improving tanker flows through the Strait will remain key drivers of global energy prices and broader market sentiment.

America: The spotlight will be on the Federal Reserve's June meeting minutes as investors seek clues on the timing of future rate moves. Key U.S. releases include the ISM Services PMI, existing home sales, trade balance, wholesale inventories and consumer credit. Canada will publish employment, trade and business sentiment data, while Mexico and Brazil release inflation figures.

Europe: Markets will focus on the ECB's June meeting accounts after its recent rate hike. Key data include Euro Area retail sales, Germany's industrial production, factory orders and trade balance, France's trade data, Italy's industrial production, and the Bank of England's Financial Stability Report. Russia's inflation and Poland's policy decision will also be monitored.

Asia-Pacific: China's inflation figures, Japan's household spending, producer prices, current account and machine tool orders headline the regional calendar. Australia will release its monthly inflation gauge and housing data, while inflation readings from Thailand, the Philippines and Taiwan will also be in focus. The Reserve Bank of New Zealand and Bank Negara Malaysia are set to announce their latest monetary policy decisions.

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