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Week Ahead




Monday

2.30am – China GDP (Q2): growth expected to be 6.2% YoY and 1.5% QoQ. Markets to watch: China indices, CNH crosses

1.30pm – US NY Empire State mfg index (July): index to rise to 0.5 from -8.6. Markets to watch: US indices, USD crosses


Tuesday

2.30am – RBA meeting minutes: these will provide further clarity on the decision to cut rates. Markets to watch: AUD crosses

9.30am – UK employment data: June claimant count to fall to 22,900 from 23,200, while the unemployment rate holds at 3.8% and average earnings rise 3.2% in May excluding bonuses. Markets to watch: GBP crosses

10am – German ZEW index (July): economic sentiment to rise to -5.9 from -21.1. Markets to watch: EUR crosses

1.30pm – US retail sales (June): sales to rise 0.3% MoM from 0.5%. Markets to watch: US indices, USD crosses


Wednesday

9.30am – UK CPI (June): inflation to rise 2% YoY and 0.3% MoM, with core CPI up 1.9% YoY and flat MoM. Markets to watch: GBP crosses

10am – eurozone inflation (June): expected to rise 0.1% MoM. Markets to watch: EUR crosses

1.30pm – Canada CPI (June): prices to rise 2.1% YoY. Markets to watch: CAD crosses

1.30pm – US housing starts & building permits (June): starts to fall 4% MoM and permits to fall 3.3% MoM. Markets to watch: USD crosses

3.30pm – US EIA crude inventories (w/e 12 July): stockpiles expected to decline by 3 million barrels after 9 million drop a week earlier. Markets to watch: Brent, WTI


Thursday

12.50am – Japan trade balance (June): surplus to widen to Y979 billion. Markets to watch: JPY crosses

2.30am – Australia employment rate (June): unemployment rate to fall to 5.1%. Markets to watch: AUD crosses

9.30am – UK retail sales (June): sales to rise 2.7% YoY and 0.4% MoM. Markets to watch: GBP crosses

1.30pm – US Philadelphia Fed index (July), initial jobless claims (w/e 13 July): Philly Fed index to rise to 5 from 0.3, and claims to fall to 208K from 209K a week earlier. Markets to watch: US indices, USD crosses


Friday

12.30am – Japan CPI (June): prices to rise 1.1% YoY. Markets to watch: JPY crosses

3pm – US Michigan consumer confidence (July, preliminary): index to fall to 98 from 98.2. Markets to watch: USD crosses

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