Week commencing 22nd July : BST
Overview
Flash PMIs for the eurozone and the US, plus an ECB meeting, dominate the week in economic data terms.
US earnings season is in full flow, and a host of major names report earnings, including Facebook, Alphabet and Amazon.
Note:
The following figures reflect the expectations of the market as of Sunday. You should obtain up-to-date expectations for each event as it draws nearer.
I strongly recommend using the Talking-Forex service to stay abreast of all market expectations and data outcomes.
Monday
1.30pm – Chicago Fed nat’l activity index (July): index to rise to -12 from -15. Markets to watch: USD crosses
Tuesday
3pm – eurozone consumer confidence (July, flash): expected to rise to -6.5 from -7.2. Markets to watch: EUR crosses
3pm – US existing home sales (June): sales to rise 1.2% MoM. Markets to watch: USD crosses
Wednesday
8.30am – German mfg & services PMI (July, flash): mfg index to rise to 45.2 from 45, and services to fall to 55.4 from 55.8. Markets to watch: EUR crosses
2.45pm – US mfg & services PMI (July, flash): manufacturing expected to fall to 50.4 from 50.6, and services to rise to 52.4 from 51.0. Markets to watch: US indices, USD crosses
3pm – US new home sales (June): sales forecast to rise 1.9% MoM from a 7.8% fall in May. Markets to watch: US indices, USD crosses
3.30pm – US EIA crude inventories (w/e 19 July): stockpiles fell by 3.1 million barrels in the preceding week. Markets to watch: Brent, WTI
Thursday
9am – German IFO business climate index (July): expected to fall to 97.1 from 97.4. Markets to watch: EUR crosses
12.45pm – ECB rate decision: it is possible that the ECB will cut rates at this meeting, or hint at further easing, in order to respond to a slowing eurozone economy. Markets to watch: eurozone indices, EUR crosses
1.30pm – US durable goods orders (June), initial jobless claims (w/e 20 July): durable goods orders expected to rise 0.1% MoM excluding transportation orders. Initial jobless claims to fall to 207K from 216K. Markets to watch: US indices, USD crosses
Friday
1.30pm – US GDP (Q2, preliminary): growth expected to be 1.9% QoQ from 3.1%. Markets to watch: US indices, USD crosses
Source: Chris Beauchamp, Market Analyst
