In the week ahead, the US is to publish data on the housing sector and manufacturing, while an interest rate decision by New Zealand’s central bank will also be in focus. The UK is to release what will be closely watched data on second quarter growth and the euro zone is to produce data on manufacturing and service sector activity.
Monday, July 22
The US is to publish private sector data on existing home sales, an important economic indicator.
Tuesday, July 23
The UK is to release a report on mortgage approvals, an important indicator of demand in the housing sector. Canada is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.
Wednesday, July 24
New Zealand and Japan are to release official data on the trade balance, the difference in value between imports and exports. Australia is to produce government data on consumer price inflation, which accounts for the majority of overall inflation. China is to publish the preliminary reading of the HSBC manufacturing index, a leading economic indicator. The euro zone is to release preliminary data on manufacturing and service sector activity, while Germany and France are also to publish individual reports. The UK is to print private sector data on industrial order expectations, an important economic indicator. The US is to release official data on new home sales, a leading indicator of economic health.
Thursday, July 25
The Reserve Bank of New Zealand is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. In the euro zone, Spain is to release official data on the unemployment rate. The Ifo Institute is to publish its index of German business climate. The UK is to publish preliminary data on second quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. The US is to publish government data on durable goods orders, a leading indicator of production, as well as the weekly government report on initial jobless claims.
Friday, July 26
Japan is to release official data on consumer price inflation. In the euro zone, Germany is to publish official data on retail sales and import prices. The US is to round up the week with revised data on consumer sentiment from the University of Michigan.