US inflation and quarterly reports in the spotlight, the discussion on the fiscal Delegation kicks off in Italy

The data oninflation and the start of the season quarterly reports in the US (big banks leave on Friday) will monopolize investors’ attention in the coming week. In Italy, however, expected inconvenience for travellersdue to the train and plane strikes – unrest is expected on Thursday and Saturday – while metalworkers in the south and in Lazio stop on Monday.

Returning to macro-economic issues, all eyes are on the USA, looking for clues on how the Fed will set its own monetary policy, especially after the summer. In three weeks now it’s taken for granted a 0.25% rate hike (the same expected for the ECB as well). A lot of irons in the fire also in Europe, where the data on industrial production will arrive from the macro front, Zew index in Germany, industrial production in Great Britain. Also on the calendar is an awaited event Ecofin summit to be held on Friday in Brussels and the day before a meeting of theEurogroup.

In Italy the Chamber of Deputies will be busy with the examination of the Delegation to the government on tax reformwhile the Minister of Enterprise and Made in Italy, Adolfo Ursowill be heard Thursday morning on the secure and sustainable sourcing of critical raw materials.

Here is the agenda for the week, according to the Agi calendar

Monday

Bank of Italy: results of the survey on inflation and growth expectations.

Tax: delegation discussion for the tax reform to the Chamber

Presentation of the study of Center for financial research on corporate governance of the Catholic University of the Sacred Heart, on the transfer of headquarters abroad of Italian companies, with the undersecretary al Mef Brakes.

Metalworkers: 4-hour strike proclaimed by Fim, Fiom and Uilm for the southern regions and Lazio.

Tuesday

Istat: industrial production in May; monthly progress reportItalian economy May/June.

Arera: in Rome presents the 2023 Annual Report on the state of services and the activity carried out.

Youth: in Rome technical table on guarantee pension.

Intesa Sanpaolo and Fideuram: in Milan press conference for the presentation of “Direct Advisory”. They participate, among others, Charles Messina, managing director of Intesa Sanpaolo; Tommaso Corcos, Ad Fideuram-Intesa Sanpaolo Private Banking.

OECD: in Paris launch of theOECD Employment Outlook 2023with the Secretary General of the OECD, Cormann and the Director of Employment, Labor and Social Affairs of the OECD, Scarpetta.

Germany: inflation in June; index Zew of July.

Wednesday

Government Bonds: issue of Bots at 12 months.

Fs: presentation in Rome Frecciarossa Rome-Pompeii, with the FS Group, Ferraris; the director of museums, Osanna; the Minister of Culture, Sangiuliano; the Minister of Tourism, Santanchè and the director of the Pompeii Archaeological Park, Zuchtriegel.

Confagricoltura: General Assembly in Rome. With Adolfo Urso, Minister of Enterprise and Made in Italy and Anna Maria Bernini, Minister of University and Research.

Tax: meeting in Rome on the main tax issues entitled “EY Tax Day“. Participating, among others, Maurice LeoDeputy Minister of Economy and Finance; Marco Osnatochairman of the House Finance Committee.

Usa: inflation in June

Thursday

Confagriculture: the General Assembly closes in Rome. With Gilberto Pichetto FratinMinister of Environment and Energy Security; Antonio TajaniMinister of Foreign Affairs and International Cooperation; Daniela SantancheMinister of Tourism; Matthew SalviniMinister of Infrastructure and Transport; Francesco LollobrigidaMinister of Agriculture, Food Sovereignty and Forests.

Fifth National Assembly of theNational Association of Consumer Cooperatives (Ancc-Coop): in Rome, “Creating the Future. Good spending can change the world”, with ministers Lollobrigida and Tajani, the secretary of the Pd Schlein and Martina.

San Donato group: presentation of the New Corporate Governance and the 2022 Consolidated Financial Statements. With the president and vice presidents of the San Donato Group, Alfano, Ghribi and Rotelli.

EU: Eurogroup meeting.

BCE: publication of the minutes of the June meeting.

France: inflation in June.

Eurozone: industrial production in May.

Use: weekly benefits; producer prices in June

Friday

Bank of Italy: data on government requirement and debt.

Healthcare and Non Self-sufficiency: in Rome initiative of the CISL with the Minister of Health Schillacithe Minister of Labor Calderone and the president of the Conference of Regions Fedriga, on the issues of a new welfare pact that starts from the centrality of work.

USA: import prices in June; Michigan household confidence index in July.

EU: Ecofin meeting in Brussels. With Economy Minister Giancarlo Giorgetti.