In the week ahead, the Federal Reserve, the Bank of England and the European Central Bank are to publish their monthly policy statements. Canada and the US are to produce economic growth data and the euro zone is to release data on manufacturing activity.
Monday, July 29
Japan is to publish government data on retail sales, the primary gauge of consumer spending. The UK is to release official data on net lending to individuals, which is the change in the total value of new credit issued to consumers, followed by industry data on realized sales. The US is to produce industry data on pending home sales, a leading indicator of economic health.
Tuesday, July 30
New Zealand is to publish official data on building consents, while Australia is to produce official data on building approvals. In addition, Reserve Bank of Australia Governor Glenn Stevens is scheduled to deliver a speech. Japan is to release a preliminary government report on industrial production, while Bank of Japan Governor Haruhiko Kuroda is set to speak at the Research Institute of Japan, in Tokyo. In the euro zone, a Gfk German consumer climate report is to be released, as well as preliminary data on German consumer price inflation and Spain’s gross domestic product. Canada is to produce official data on raw materials price inflation. The US is to release a report on the Standard & Poor’s/Case-Shiller Composite-20 house price index, followed by the Conference Board’s report on consumer confidence.
Wednesday, July 31
New Zealand is to produce data on business confidence, a leading indicator of economic health, while Australia is to publish official data on private sector credit. Elsewhere, Germany is to release official data on retail sales and unemployment change, while France is to publish an official report on consumer spending. In addition, official reports are to be produced on consumer price inflation and the unemployment rate for the entire euro zone. Canada is to release official GDP data, which is the change in the inflation-adjusted value of all goods and services produced by the economy. The US is also to produce GDP data, as well as a report on non-farm employment change and data on manufacturing activity in Chicago. Separately, the Federal Reserve is to release its monthly monetary policy statement, which will be closely watched for indications on the future of the central bank’s stimulus program.
Thursday, August 1
Australia is to publish industry data on new home sales. In Switzerland, markets are to remain closed due to a national holiday. In the euro zone, reports will be released on manufacturing activity in Spain, Italy and the entire single currency bloc. Later in the day, the European Central Bank is to release its monthly monetary policy statement, followed by a press conference. The UK is to produce a report on manufacturing activity, while the Bank of England will also publish its monetary policy statement. The US is to release official data on weekly unemployment claims, followed by a report by the Institute of Supply Management on manufacturing activity.
Friday, August 2
Australia is to release official data on producer price inflation, a leading indicator of consumer inflation. The UK is to produce industry data on house price inflation, as well as a report on construction activity. In the euro zone, data is to be published on Spanish employment change, while Switzerland is to release a SVME report on manufacturing activity. The US is to round up the week with official data on non-farm employment change, the unemployment rate, average hourly earnings and personal spending, as well as a report on factory orders.
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