(Note: all times HKT)
Good morning everyone. America and Europe are both set to regain the spotlight this week as the Federal Reserve gears up to release its highly-scrutinized FOMC minutes while Athens prepares itself for a – hopefully – early €3.2 billion repayment to the ECB. Currency traders meanwhile will be keeping their eye on Wednesday night’s U.S. inflation report – a key factor for the Fed to raise interest rates. It is expected to come in slightly higher at 0.12%. Also popping out of this week’s docket is the land of the rising sun’s GDP growth data. While the nation’s economy grew 1% in the first quarter, analysts are expecting it to contract 0.4% in the second. Here’s what else you need to know:
Monday:
7:50 am – Japan Preliminary Q2 YoY GDP Growth – Forecast: -2% from 3.9%
7:50 am – Japan Preliminary Q2 QoQ GDP Growth – Forecast: -0.4% from 1%
5:00 pm – Eurozone June Trade Balance – Forecast: €23.2 billion from €18.8 billion
6:00 pm – Bundesbank Monthly Report
Tuesday:
9:30 am – Reserve Bank of Australia Monetary Policy Meeting Minutes
9:30 am – China July YoY House Price Index
4:00 pm – Bank Indonesia Interest Rate Decision – Forecast: unchanged at 7.5%
4:30 pm – U.K. July YoY Inflation Rate – Forecast: unchanged at 0%
4:30 pm – U.K. July YoY Core Inflation Rate – Forecast: 0.83% from 0.8%
8:30 pm – U.S. July Building Permits – Forecast: 1.328 mio from 1.343 mio
8:30 pm – U.S. July Housing Starts – Forecast: 1.153 mio from 1.174 mio
Wednesday:
2:00 am – Brazil August Business Confidence – Forecast: 37 from 37.2
7:50 am – Japan July Balance of Trade – Forecast: – ¥69.6 billion from – ¥69 billion
7:50 am – Japan July YoY Exports
8:30 pm – U.S. July YoY Inflation Rate – Forecast: 0.12% from 0.1%
8:30 pm – U.S. July YoY Core Inflation Rate – Forecast: 1.84% from 1.8%
Thursday:
2:00 am – Federal Reserve FOMC Minutes
8:20 am – Minneapolis Fed President Kocherlakota Speech
2:45 pm – San Francisco Fed President Williams Speech
4:30 pm – U.K. July YoY Retail Sales – Forecast: 4.3% from 4%
4:30 pm – U.K. July YoY Retail Sales ex-Fuel – Forecast: 4.3% from 4.2%
8:00 pm – Brazil July Unemployment Rate – Forecast: Unchanged at 6.9%
8:30 pm – U.S. Weekly Initial Jobless Claims – Forecast: 272,000 from 274,000
10:00 pm – U.S. July Existing Home Sales – Forecast: 5.4 mio from 5.49 mio
10:00 pm – U.S. August Philadelphia Fed Manufacturing Index – Forecast: 7.33 from 5.7
Friday:
9:45 am – China August Caixin General Manufacturing Flash PMI
3:00 pm – Swiss National Bank Monthly Bulletin
3:30 pm – Germany August Markit/BME Manufacturing Flash PMI – Forecast: 51.48 from 51.8
3:30 pm – Germany August Markit Services Flash PMI – Forecast: 54.36 from 53.8
8:30 pm – Canada July YoY Inflation Rate – Forecast: 1.2% from 1%
8:30 pm – Canada July YoY Core Inflation Rate – Forecast: unchanged at 2.3%
8:30 pm – Canada July MoM Retail Sales – Forecast: 0.29% from 1%
10:00 pm – Eurozone August Flash Consumer Confidence – Forecast: -8.3 from -7.1
Photo: istock