In the week ahead, investors will be looking ahead to US data on retail sales, consumer inflation and housing sector activity. Monday’s data on Chinese economic growth will be closely watched and a monetary policy decision by the Bank of Canada on Wednesday will also be in focus.
Monday, July 15
Markets in Japan are to remain closed for a national holiday. Australia is to publish government data on new vehicle sales, a leading indicator of consumer confidence. China is to release official data on second quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. Beijing is also to produce data on industrial production and fixed asset investment. Switzerland is to publish government data on producer price inflation. The US is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The US is also to publish the Empire state manufacturing index and a report on business inventories.
Tuesday, July 16
New Zealand is to release official data on consumer price inflation, which accounts for the majority of overall inflation. The Reserve Bank of Australia is to release the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective. The UK is to release official data on consumer price inflation, as well as reports on producer price inflation and retail price inflation. The ZEW Institute is to release its closely watched report on German economic sentiment, a leading indicator of economic health, as well as data on economic sentiment in the wider euro zone. The euro zone is to release official data on consumer price inflation. Canada is to publish official data on manufacturing sales, a leading economic indicator. The US is to release official data on consumer price inflation, industrial production and the capacity utilization rate.
Wednesday, July 17
The Bank of Japan is to release the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective. The UK is to release official data on the change in the number of people unemployed and the unemployment rate, as well as data on average earnings. The ZEW Institute is to publish a report on economic expectations in Switzerland, a leading indicator of economic health. The BoC is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The bank is to hold a press conference after the rate announcement. Canada is to release government data on foreign securities purchases. The US is to release official data on building permits, a leading indicator of future construction sector activity, as well as data on housing starts. The Federal Reserve is to release its Beige book.
Thursday, July 18
Australia is to publish an index of leading economic indicators and a private sector report on business confidence. The UK is to publish government data on retail sales. In the euro zone, Spain and France are to hold auctions of 10-year government bonds. Canada is to produce official data on wholesale sales, a leading indicator of consumer spending. The US is to release the weekly government report on initial jobless claims and the Philly Fed manufacturing index.
Friday, July 19
In the euro zone, Germany is to release official data on producer price inflation. The UK is to release government data on public sector net borrowing. Canada is to round up the week with official data on consumer price inflation.