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5 Things to Watch on the Economic Calendar This Week
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Loading...1. European Central Bank policy meeting
The European Central Bank's interest rate decision is due at 11:45GMT, or 7:45AM ET, on Thursday, with most of the focus likely to be on President Mario Draghi’s conference, 45 minutes after the announcement.
The consensus is that the ECB will leave interest rates on hold, while Draghi is forecast to strike a dovish tone and perhaps hint at further stimulus to offset the hit to the economy from Britain's decision to leave the European Union.
2. Flash euro zone PMIs for June
The euro zone is to publish preliminary data on manufacturing and service sector activity for July at 08:00GMT, or 4:00AM ET, on Friday, amid expectations for a modest decline.
Ahead of the euro zone PMI's, Franceand Germany will release their own PMI reports at 07:00GMT and 07:30GMT respectively.
3. German ZEW business survey
The ZEW Institute will publish its July German Business Climate Index at 09:00GMT, or 5:00AM ET, on Tuesday, amid expectations for a sharp deterioration from 19.2 to 9.1, as the Brexit shock hit business confidence.
4. U.K. CPI, employment & retail sales data
The U.K. Office for National Statistics will release data on consumer price inflation for June at 08:30GMT, or 4:30AM ET, on Tuesday. Analysts expect consumer prices to rise 0.4%, after increasing 0.3% a month earlier.
At 08:30GMT, or 4:30AM ET, Wednesday, the ONS will publish the latest job report. The amount of people receiving jobless benefits is expected to rise by 4,000 in June, with the unemployment rate holding steady at 5.0%, while wage growth including bonuses is forecast to rise 2.3%.
On Thursday, the ONS will produce a report on June Retail Sale at 08:30GMT, or 4:30AM ET, amid expectations for a decline of 0.6% last month. Core sales are forecast to fall 0.7%, as British consumers are thought to have slowed down on their purchases both before and after the referendum.
5. U.S. housing data
The Commerce Department is to publish a report on housing stats and building permits for June at 12:30GMT, or 8:30AM ET, on Tuesday. The data could show that permits rose 0.6% to 1.150 million last month, while housing starts are forecast to inch up 0.5%to 1.170 million.
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