Week Ahead


Next week the US will be publishing inflation rate, the preliminary estimate of Michigan consumer sentiment, JOLTs job openings and producer and foreign trade prices. Elsewhere, the ECB is set to release its minutes of the June meeting and the Bank of Canada will be deciding on monetary policy. Key economic data include: UK first publication of monthly GDP, industrial production, trade balance and construction output; Eurozone industrial production; China inflation, producer prices and foreign trade; Japan machinery orders; and Australia business and consumer morale.

In the US the most important releases are inflation rate; the preliminary estimate of Michigan consumer sentiment; JOLTs job openings; producer and foreign trade prices; consumer credit change; NFIB Business Optimism index; the government's budget statement; and the final reading of May's wholesale inventories.

From next week, the UK will start publishing a monthly GDP reading in addition to the usual quarterly series. The GDP data will consist of both month-on-month and a rolling three-month figure for May. Other important releases are industrial production, trade balance and construction output. 

Elsewhere in Europe, investors will turn their attention to ECB account of the June policy meeting following news that some officials are viewing September or October next year as a more suitable time to start raising rates, instead of December 2019. Regarding the economic calendar, key data include: Eurozone, France and Italy industrial production; Germany foreign trade and ZEW Economic Sentiment index; Sweden and Ireland inflation rates; and Poland interest rate decision.

In China analysts are eyeing the publication of inflation rate, producer prices and trade balance. Meanwhile, Japan is set to publish figures for machinery orders, current account and Tertiary Industry index; and Australia is releasing NAB Business Confidence and Westpac Consumer Confidence.

Other key highlights include: Canada interest rate decision, housing starts and new home prices; Mexico inflation rate; Brazil retail trade; Malaysia and South Korea interest rate decisions; India inflation and industrial output; and Singapore second-quarter GDP growth.



Joana Ferreira | joana.ferreira@tradingeconomics.com
7/6/2018 4:18:54 PM



 


Friday July 06 2018 Actual Previous Consensus
05:00 AM
JP
Coincident Index Prel MAY 116.1 117.5
05:00 AM
JP
Leading Economic Index Prel MAY 106.9 106.2
06:00 AM
DE
Industrial Production MoM MAY 2.6% -1.3% ®
06:45 AM
FR
Balance of Trade MAY €-6.0B €-5.2B ®
08:00 AM
IT
Retail Sales MoM MAY 0.8% -0.6% ®
11:00 AM
EA
ECB Nouy Speech
12:00 PM
BR
Inflation Rate YoY JUN 4.39% 2.86%
12:30 PM
CA
Participation Rate JUN 65.5% 65.3%
12:30 PM
CA
Balance of Trade MAY C$-2.77B C$-1.86B ®
12:30 PM
CA
Employment Change JUN 31.8K -7.5K
12:30 PM
CA
Unemployment Rate JUN 6% 5.8%
12:30 PM
US
Average Hourly Earnings MoM JUN 0.2% 0.3%
12:30 PM
US
Balance of Trade MAY $-43.1B $-46.1B ®
12:30 PM
US
Non Farm Payrolls JUN 213K 244K ®
12:30 PM
US
Unemployment Rate JUN 4% 3.8%
01:00 PM
RU
Foreign Exchange Reserves JUN $456.7B $456.6B
01:00 PM
RU
Inflation Rate YoY JUN 2.3% 2.4%
02:00 PM
CA
Ivey PMI s.a JUN 63.1 62.5
Sunday July 08 2018 Actual Previous Consensus
03:10 AM
AU
RBA Bullock Speech
08:30 AM
EA
ECB Cœuré Speech
11:50 PM
JP
Current Account MAY ¥1.938T ¥1.845T
Monday July 09 2018 Actual Previous Consensus
12:30 AM
JP
BoJ Kuroda Speech
05:45 AM
CH
Unemployment Rate JUN 2.4% 2.4%
06:00 AM
DE
Balance of Trade MAY €19.7B €20.1B ®
07:00 AM
EA
ECB Praet Speech
01:00 PM
EA
ECB Draghi Speech
01:00 PM
MX
Inflation Rate YoY JUN 4.65% 4.51%
01:10 PM
US
Fed Kashkari Speech
03:00 PM
EA
ECB Draghi Speech
EA
EU-Ukraine Summit
Tuesday July 10 2018 Actual Previous Consensus
01:00 AM
PH
Balance of Trade MAY $-3701M $-3480M ®
01:30 AM
AU
NAB Business Confidence JUN 6 7 ®
01:30 AM
CN
Inflation Rate MoM JUN -0.1% -0.2%
01:30 AM
CN
PPI YoY JUN 4.7% 4.1%
01:30 AM
CN
Inflation Rate YoY JUN 1.9% 1.8%
06:45 AM
FR
Industrial Production MoM MAY -0.2% -0.5%
08:00 AM
IT
Industrial Production MoM MAY 0.7% -1.3% ®
08:30 AM
GB
Manufacturing Production MoM MAY 0.4% -1.3% ®
08:30 AM
GB
Construction Output YoY MAY 1.6% -1.2% ®
08:30 AM
GB
Industrial Production YoY MAY 0.8% 1.6% ®
08:30 AM
GB
Industrial Production MoM MAY -0.4% -1% ®
08:30 AM
GB
Monthly GDP 3-Month Avg MAY 0.2% 0%
08:30 AM
GB
Manufacturing Production YoY MAY 1.1% 0.9% ®
08:30 AM
GB
Balance of Trade MAY £-2.79B £-3.087B ®
08:30 AM
GB
Monthly GDP MAY 0.3% 0.2%
09:00 AM
EA
ZEW Economic Sentiment Index JUL -18.7 -12.6
09:00 AM
DE
ZEW Economic Sentiment Index JUL -24.7 -16.1
09:00 AM
DE
ZEW Current Conditions JUL 72.4 80.6
12:15 PM
CA
Housing Starts JUN 248.1K 195.6K
02:00 PM
US
JOLTs Job Openings MAY 6.638M 6.84M ®
08:30 PM
US
API Crude Oil Stock Change 6/JUL -6.796M -4.5M
11:00 PM
KR
Unemployment Rate JUN 3.7% 4%
11:50 PM
JP
Machinery Orders MoM MAY -3.7% 10.1%
Wednesday July 11 2018 Actual Previous Consensus
12:30 AM
AU
Westpac Consumer Confidence Index JUL 106.1 102.2
12:30 AM
AU
Westpac Consumer Confidence Change JUL 3.9% 0.3%
01:30 AM
AU
Home Loans MoM MAY 1.1% -1.4%
01:30 AM
AU
Investment Lending for Homes MAY -0.1% -0.9%
06:30 AM
JP
Tertiary Industry Index MoM MAY 0.1% 1%
07:00 AM
EA
ECB Draghi Speech
07:00 AM
MY
Interest Rate Decision 3.25% 3.25%
07:30 AM
EA
ECB Praet Speech
11:30 AM
PL
Interest Rate Decision 1.5% 1.5%
12:30 PM
US
Core PPI MoM JUN 0.3% 0.3%
12:30 PM
US
PPI MoM JUN 0.3% 0.5%
02:00 PM
CA
BoC Interest Rate Decision 1.5% 1.25%
02:00 PM
CA
BoC Monetary Policy Report
02:00 PM
US
Wholesale Inventories MoM MAY 0.6% 0.1%
02:30 PM
US
EIA Crude Oil Stocks Change 06/JUL -12.633M 1.245M
02:30 PM
US
EIA Gasoline Stocks Change 06/JUL -0.694M -1.505M
03:15 PM
CA
BoC Press Conference
03:30 PM
GB
BoE Gov Carney Speech
08:30 PM
US
Fed Williams Speech
BE
NATO Summit
EA
ECB Non-Monetary Policy Meeting
EA
EU-Japan Summit
SA
OPEC Monthly Report
Thursday July 12 2018 Actual Previous Consensus
01:00 AM
KR
Interest Rate Decision 1.5% 1.5%
04:30 AM
NL
Balance of Trade MAY €5.03B €3.53B ®
06:00 AM
DE
Inflation Rate YoY Final JUN 2.1% 2.2%
07:10 AM
CN
FDI (YTD) YoY JUN 1.1% 1.3%
07:30 AM
SE
CPIF YoY JUN 2.2% 2.1%
07:30 AM
SE
Inflation Rate MoM JUN 0.2% 0.2%
07:30 AM
SE
Monetary Policy Meeting Minutes
08:00 AM
FR
IEA Oil Market Report
09:00 AM
EA
Industrial Production YoY MAY 2.4% 1.7%
09:00 AM
EA
Industrial Production MoM MAY 1.3% -0.8% ®
10:00 AM
IE
Inflation Rate YoY JUN 0.4% 0.4%
11:30 AM
EA
ECB Monetary Policy Meeting Accounts
12:00 PM
BR
Retail Sales MoM MAY -0.6% 0.7% ®
12:00 PM
BR
Retail Sales YoY MAY 2.7% 0.6%
12:00 PM
IN
Industrial Production YoY MAY 3.2% 4.8% ®
12:00 PM
IN
Inflation Rate YoY JUN 5% 4.87%
12:00 PM
IN
Manufacturing Production YoY MAY 2.8% 5.3% ®
12:30 PM
CA
New Housing Price Index MoM MAY 0% 0%
12:30 PM
CA
New Housing Price Index YoY MAY 0.9% 1.6%
12:30 PM
US
Inflation Rate MoM JUN 0.1% 0.2%
12:30 PM
US
Core Inflation Rate MoM JUN 0.2% 0.2%
12:30 PM
US
Core Inflation Rate YoY JUN 2.3% 2.2%
12:30 PM
US
Inflation Rate YoY JUN 2.9% 2.8%
01:00 PM
RU
Balance of Trade MAY $15.15B $15.32B
04:15 PM
US
Fed Harker Speech
05:00 PM
US
30-Year Bond Auction 2.958% 3.100%
06:00 PM
US
Monthly Budget Statement JUN $-75B $-147B
BE
NATO Summit
EA
Eurogroup Meeting
Friday July 13 2018 Actual Previous Consensus
12:00 AM
SG
GDP Growth Rate QoQ Adv Q2 1.0% 1.5% ®
12:00 AM
SG
GDP Growth Rate YoY Adv Q2 3.8% 4.3% ®
12:00 AM
US
Fed Kashkari Speech
03:00 AM
CN
Imports YoY JUN 14.1% 26%
03:00 AM
CN
Exports YoY JUN 11.3% 12.6%
03:00 AM
CN
Balance of Trade JUN