Mubasher – Sally Ismail: Global markets witnessed strong fluctuations in investor sentiment amid doubts about the US stimulus package and anticipating the repercussions of the “Covid-19” epidemic.
On the contrary, attention is focused this week on global central banks, in addition to the OPEC meeting and other economic data.
Federal transcript
The Fed will release the minutes of its latest monetary policy meeting next Wednesday.
The US Central Bank fixed the main interest rate in the country at a range between zero to 0.25 percent, with Bank President Jerome Powell confirming to take all necessary steps to support the US economy.
OPEC meeting
The Organization of Petroleum Exporting Countries OPEC and the Joint Ministerial Committee will hold their monthly meeting next Wednesday, to discuss a range of issues, including consensus on the amount of oil that they will produce.
The meeting is scheduled to be attended by the 13 member states of the organization and 11 other oil-rich countries.
European Central
The European Central Bank will present the minutes of its latest monetary policy meeting next Thursday.
The central bank preferred to resort to a “wait-and-see” policy, as it did not take new decisions at its last meeting, whether in terms of interest rates or quantitative easing programs.
Unemployment benefit applications
The US Labor Department will release unemployment benefits data in the United States for the past week on Thursday.
And she was US unemployment benefits It fell below a million orders in the week to 8 August for the first time since mid-March.
Interest in Turkey
Turkey’s central bank will announce its monetary policy decision next Thursday, amid expectations that the country’s main interest rate will be maintained at its current level of 8.25 percent.
And she was Turkish Lira It collapsed to a new record last week as government efforts failed to support the local currency, before retreating slightly from this level at a later time.
Economic activity data
Friday will witness the announcement of data on industrial and service activity, which means a general picture of economic activity for a number of countries this month with preliminary estimates.
It is expected that the PMI in both the industrial and services sectors will witness expansion in activity in the euro area, Germany, France, the United Kingdom and the United States.
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