Next week, investors will remain focused on trade tensions, watching for any progress toward a US–China agreement before the August 12 deadline, after which tariffs exceeding 100% could be imposed. Geopolitical developments will also be in the spotlight as Presidents Trump and Putin are expected to meet soon to find a solution for the conflict in Ukraine. In the US, key releases include CPI and PPI, retail sales, industrial production, and the preliminary reading of the University of Michigan’s consumer sentiment. Globally, attention will turn to China’s industrial production, retail sales, and new yuan loans; Eurozone GDP; Germany’s ZEW economic sentiment; Japan’s preliminary Q2 GDP; inflation data from India and Brazil; and a busy UK docket with GDP, labor market, industrial production, and trade figures. The RBA will also announce its monetary policy decision.