In the week ahead, investors will be closely watching US data on retail sales and consumer inflation, as well as reports from the housing and manufacturing sectors. Second quarter growth data from Japan and the euro zone will also be in focus.
Monday, August 12
Japan is to release preliminary data on second quarter gross domestic product, the broadest indicator of economic activity and the leading measure of the economy’s health. Switzerland is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. In the euro zone, France and Spain are to hold auctions of 10-year government bonds.
Tuesday, August 13
Japan is to release data on core machinery orders. The Bank of Japan is to publish its monetary policy meeting minutes, which contain valuable insights into economic conditions from the bank’s perspective. Australia is to release a private sector report on business confidence. The UK is to produce official data on consumer price inflation, which accounts for the majority of overall 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 industrial production. The US is to publish government data on retail sales, import prices and business inventories.
Wednesday, August 14
New Zealand is to release official data on retail sales, while Australia is to publish private sector data on consumer sentiment and official data on labor costs. The euro zone is to produce preliminary data on second quarter gross domestic product, while Germany and France are to publish individual reports. 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 US is to release official data on producer price inflation later Wednesday.
Thursday, August 15
The UK is to release official data on retail sales. Markets in Italy are to remain closed for a national holiday. The US is to release a series of economic data, with reports on consumer inflation, jobless claims, industrial production and manufacturing data from the Empire state and the Philly Fed.
Friday, August 16
The euro zone is to release official data on consumer price inflation and the trade balance. Canada is to publish official data on manufacturing sales and foreign securities purchases. The US is to round up the week with data on building permits, a leading indicator of future construction sector activity, as well as data on housing starts. The University of Michigan is to release its closely watched preliminary data on consumer sentiment.