Today we expect the financial statements of Citigroup and Wells Fargo, along with retail sales figures in US at 15:30 and CPI at 15:30.
At 15:00 there will be a statement by the Governor of Bank of England – Carney. Therefore, from now on the volatility of GBP may increase, which will lead to caution and possible downgrade.
Most influence on the market will have the retail sales. Expectations are 0.1, weaker expectations compared to 0.5. Better data will have a positive impact on USD.
The financial statement will also have a strong influence on the stock market. Yesterday’s statement from JPMorgan was better than expected which increases expectations for Citi and Wells Fargo. Weaker data are likely to have a negative impact on the entire banking sector.
Citigroup will announce its results for the second quarter before the markets open. Analyst predict earnings of $1.1 per share and sales of $17.5 billion. In the same quarter last year, earning totaled revenue of $19.16 billion.
Wells Fargo is expected to report earnings of $1.01 per share and revenues worth 22.17$ billion. In the same quarter last year, the bank reported a profit of $1.03 per share and sales of $21.3 billion.
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