After another sizzling-hot inflation report out of the United States, the European Central Bank and Bank of Japan will meet against the worrisome setting of their currencies plunging. The former is expected to launch its tightening cycle, but the latter may make a surprise policy move even though it has not signaled any action. It’s looking to be an eventful week on
the data front as well, as the flash PMI estimates for July and inflation numbers are due in several countries.

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