In the week ahead, investors will be looking ahead to Wednesday’s minutes of the Federal Reserve’s June meeting, as well as Friday’s closely watched data on US consumer sentiment. The outcome of Thursday’s Bank of Japan policy meeting will also be in focus.
Monday, July 8
Japan is to release official data on the current account and bank lending. Switzerland is to publish government data on the unemployment rate. In the euro zone, Germany is to produce official data on industrial production, a leading indicator of economic health, as well as data on the trade balance. The eurogroup of euro zone finance ministers are to hold talks in Brussels. ECB President Mario Draghi is to appear before the committee on Economic and Monetary Affairs in the European Parliament in Brussels. Canada is to publish government data on building permits, a leading indicator of future construction activity. The Bank of Canada is to release its quarterly business outlook survey.
Tuesday, July 9
New Zealand is to release private sector data on business confidence, a leading indicator of economic health, while Australia is to publish a report on business confidence. China is to produce official data on consumer price inflation, which accounts for the majority of overall inflation. Switzerland is to publish official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The UK is to release official data on manufacturing production, as well as data on the trade balance. Finance ministers from the European Union are to hold talks in Brussels.
Wednesday, July 10
The Bank of Japan is to release monetary policy meeting minutes, which provide insights into economic conditions from the bank’s perspective. Japan is also to produce official data on tertiary industry activity. Australia is to publish a report on consumer sentiment, a leading indicator of consumer spending. In the euro zone, France and Italy are to release official data on industrial production. Federal Reserve is to publish the minutes of its latest policy setting meeting. Meanwhile, Fed Chairman Ben Bernanke is to speak.
Thursday, July 11
New Zealand is to release private sector data on manufacturing activity, a leading economic indicator. Australia is to produce official data on the change in the number of people unemployed and the unemployment rate. The BoJ is to announce its benchmark interest rate. The announcement is to be accompanied by the bank’s monetary policy statement, which contains important insights into the economic outlook. The BoJ is to hold a press conference after the rate announcement. Japan is also to release official data on core machinery orders, a leading indicator of production. The ECB is to publish its monthly bulletin, which outlines the bank’s economic outlook. Canada is to release official data on new house price inflation, an important indicator of demand in the housing sector. The US is to release the weekly government report on initial jobless claims, a leading economic indicator, as well as official data on import prices.
Friday, July 12
Australia is to publish official data on home loans, a leading indicator of demand in the housing sector. The euro zone is to release official data on industrial production. The US is to round up the week with official data on producer price inflation and preliminary data from the University of Michigan on consumer sentiment.