Thematic Research：Next week...this week

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies within it [1]. Core Insights - The upcoming week is pivotal for monetary policy decisions from major central banks including the Fed, BoJ, and BoE, with significant economic data releases expected [2][3]. - The US economists predict a hold on interest rates by the Fed, with a potential cut forecasted for September, while the BoJ has a 60% chance of a rate hike due to inflation and wage growth aligning with expectations [3]. - In Europe, the BoE is anticipated to begin easing restrictive policies, with a narrow majority favoring a rate cut [3]. - Key economic indicators include the US jobs report, with payroll gains expected to rise from 206k in June to 215k in July, and the unemployment rate projected to decrease to 4.0% [4][5]. Economic Data Summaries - Eurozone inflation is expected to rise to 2.59% YoY in July from 2.52% in June, with core HICP remaining at 2.87% [5]. - In Germany, inflation is forecasted at 2.5%, while France is expected to see 3.0% inflation [5]. - Japan's unemployment rate is projected to remain at 2.6%, with a significant MoM drop in industrial production forecasted at -5.1% [6]. - In China, both manufacturing and non-manufacturing PMIs are expected to decline [6]. Corporate Earnings Focus - Major tech companies such as Microsoft, Meta, Apple, and Amazon are set to report earnings, with the Nasdaq 100 having experienced a decline of approximately 8.9% since July 10 [7]. - Other sectors in focus include oil majors like BP and Shell, consumer firms such as McDonald's and Starbucks, and automakers including Toyota and Volkswagen [7].