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United States Of America – Financial data will be on investors mind this week. Investors will look to Fed FOMC meeting minutes from July for signs on whether the last 75bps boost will be the last or not. As consumer prices rise, retail sales will remain poor, reducing consumers’ spending power.ny
Eyes on Industrial output, New York Empire State and Philadelphia Fed Manufacturing Indexes will also be desired data.
Building permits, housing starts, and existing house sales will also be correlated to data sets. The NAHB Housing Market Index release will be Monday Morning as well as Housing Starts, Building Permits, and Housing Starts on Tuesday. We will have to wait till August 23 for New Home Sales and the 24th for Pending Home Sales data.
Outside The United States
The Canada CPI is a first-tier announcement that might give information concerning the Bank of Canada’s rate path.
The UK economic calender includes unemployment, inflation, retail sales, Gfk consumer sentiment, and public sector net borrowing.
ONS figures likely indicate UK inflation surged to a four-decade high of 9.8% in July and retail sales probably dropped for the third straight month.
Second-quarter unemployment is expected to remain at 3.8%.
Euro Zone will get a second estimate of second-quarter GDP and July’s final inflation rate. German investor sentiment should rise from a 10-year low in July.
Eurozone balance of trade, current account, and construction output; Germany producer and wholesale prices; Spain foreign trade; Poland and Netherlands second-quarter GDP numbers; Switzerland industrial production and balance of trade.
Inflation jumped more than predicted to 6.8% in July, prompting the Norges Bank to boost its benchmark interest rate by 50 bps on Thursday.
The Central Bank of Turkey is expected to keep its benchmark interest rate at 14% for an eighth month.
In Australia, the RBA will issue minutes from its August meeting, explaining its 50bps rate rise.
RBNZ anticipated to hike cash rate by 50bps.
Japan will start a busy week of macroeconomic announcements with preliminary Q2 GDP statistics, expected to show a 0.6% quarterly comeback following Q1’s small loss.
Inflation has above the BoJ’s 2% objective in the last three months, so investors anticipate July consumer price data.
In China, July industrial production will show how the economy has recovered from second-quarter Covid lockdowns, followed by retail sales, the jobless rate, and foreign direct investment. In addition China housing data and market reaction will occur Monday giving more insight to the troubled development and home construction industries.
Thai GDP will grow in Q2 in Asia.
The Bangko Sentral ng Pilipinas is likely to maintain its hawkish stance and boost its benchmark overnight borrowing rate by 50bps.