It will be a busy week in the US, as investors turn their attention to next week's FOMC meeting at which the Federal Reserve is expected to leave interest rates unchanged. Regarding the economic calendar, the most important releases are: non-farm payrolls; unemployment rate; wage growth; trade balance; personal income and spending; PCE prices; ISM PMIs; ADP employment change; factory orders; construction spending; pending home sales; Dallas Fed Manufacturing Index; ISM New York Index; S&P/Case-Shiller home prices; Chicago PMI; total vehicle sales; and final Markit PMIs.
The Bank of England will provide an update on monetary policy and is expected to raise its key Bank Rate for the first time this year. UK's Markit PMIs and monetary indicators will also be watched.
Elsewhere in Europe, preliminary estimates of second-quarter GDP growth will be published for the Eurozone, Italy, Spain, Sweden, Austria and Belgium, as well as figures of July's inflation for the Eurozone, Germany, France, Italy, Spain, Switzerland, Poland and Turkey. Markets will also focus on: Eurozone unemployment rate, business and consumer surveys, retail trade and final Markit PMIs; Germany retail sales and jobless rate; Italy industrial output, retail trade and unemployment; Switzerland KOF leading indicators and consumer confidence; and Turkey trade balance.
The Bank of Japan will hold its monetary policy meeting, but no changes are expected. Analysts are also eyeing the publication of Japan's unemployment, consumer confidence, retail sales, industrial production and final Nikkei Manufacturing PMI. Meanwhile, China is set to publish official and Caixin PMI figures; and Australia is releasing trade balance, retail sales, private sector credit and AIG indices for both manufacturing and service sectors.
Other important releases include: India, Brazil and Mexico interest rate decisions; worldwide Markit PMIs; Canada monthly GDP and foreign trade; Brazil trade balance, unemployment and industrial output; Mexico Q2 GDP growth rate; South Korea trade balance and inflation; Indonesia inflation; and South Africa trade balance and unemployment.