Wu Says This Week’s Macro Indicators and Analysis: ECB Interest Rate Decision, Tesla and Google Earnings Reports

Compiled by: GaryMa, WuShuo Blockchain

Summary

Last week, U.S. inflation data—CPI and PPI—both came in below expectations. In its July monetary policy report, the Federal Reserve raised the mid-point of the year-end interest rate to 3.8%. This week, the focus is on the ECB interest rate decision and earnings reports from companies such as Tesla and Google.

Last Week’s Recap

U.S. June CPI rose 3.5% year over year, below the market expectation of 3.8%. Core CPI excluding food and energy increased 2.6% year over year, below the market expectation of 2.8%.

U.S. June PPI rose 5.5% year over year, versus the expected 6.2%. The prior value was revised from 6.50% to 6.0%.

For the week ending July 11, the number of initial jobless claims recorded 208k, the lowest since the week of May 2, 2026.

Federal Reserve Beige Book: The U.S. economy expanded slightly; employment improved, but price pressures remain.

The Federal Reserve released its July monetary policy report: Inflation rose again, and the mid-point of the year-end interest rate forecast was raised to 3.8%.

This Week’s Key Events & Indicators

July 23

Eurozone: ECB deposit facility rate through July 23 (20:15)

U.S.: Initial jobless claims for the week ending July 18 (in ten-thousands) (20:30)

Google, Intel, Tesla—Q2 earnings reports to be released after U.S. market close

July 24

AMD Advancing AI conference held July 22–23 in San Francisco