The emerging week is a week of GDPs. Among the most important news will be the release of the US GDP which is one of the main indicators providing hints at the Fed rate hike timing. The preliminary GDP for the second quarter in Canada, United Kingdom, Spain will also be in focus. Wednesday will mark the awaited meeting of the FOMC.
Monday, July 27
In the euro zone, the Ifo Institute is to report on German business climate, current assessment and expectations in June.
The European Central Bank will post the M3 Money Supply for June.
The U.S. is to release data on durable goods orders.
Tuesday, July 28
In France, the consumer confidence and business confidence for July will be
released.
In the U.K., the spotlight of the day is the first Preliminary GDP growth for the second quarter of the year.
The British Index of Services for the three months up to May will be released.
The U.S. is to issue a report on consumer confidence.
Moreover, in the U.S. the Case-Shiller Home Price Indices for May, as well as the Preliminary Markit Services PMI for July are expected.
Wednesday, July 29
In Germany, the Gfk Group is to report on business climate.
The UK mortgage approvals for June and the net lending to individuals as well as the M4 money supply for June will, be released.
Later Tuesday, the Fed is to announce its latest monetary policy decision and publish its rate statement.
The central bank’s interest rate decision will be announced along with the Monetary Policy Statement. Most analysts do not expect the Fed to raise interest rates in this meeting, but the statement would be closely watched for additional clues.
Thursday, July 30
In New Zealand, the building permits for June will be awaited for a signal of the health of the housing sector.
In Japan, inflation rate for June and the preliminary industrial production for June will be released.
In Australia, the building permits for June, the import and the export price index for Q2 will be out.
In the euro zone, Germany is to release preliminary data on consumer inflation and on the change in the number of people employed.
Spain is to release preliminary data on second quarter growth and preliminary data on consumer inflation.
The European Central Bank will issue the Economic Bulletin Report and a some time later, several economic indicators regarding euro area’s sentiment in business, industrial, consuming, and services sector.
The U.S. is to produce preliminary data on second quarter growth and the weekly report on initial jobless claims.
Friday, July 31
The German retail sales for June will be out.
Italy’s flash inflation rate for July will be released.
The euro zone is to issue preliminary data on consumer prices, as well as a report on the unemployment rate.
The U.S. is to terminate the week with the employment cost index for Q2, the Chicago Purchasing Managers’ Index for July and the final Michigan Consumer Sentiment Index for June.
Canada will await the final GDP for May.
