Week Ahead



Next week the US will be publishing the advance estimate of second-quarter GDP growth, existing and new home sales, durable goods orders and flash Markit PMIs. Elsewhere, the ECB will be deciding on monetary policy. Other important releases include: UK CBI factory orders; Eurozone flash Markit PMIs and consumer confidence; France and South Korea Q2 GDP growth rates; Japan Nikkei Manufacturing PMI; Australia inflation; and interest rate decisions from Turkey and Russia.

In the US the most important releases are the advance estimate of second-quarter GDP growth; existing and new home sales; durable goods orders; flash Markit PMIs; Chicago Fed National Activity Index; Richmond Fed Manufacturing Index; Kansas Fed Manufacturing Index; FHFA house prices; advance estimates of goods trade balance and wholesale inventories; and the final reading of July's Michigan consumer sentiment.

The UK will publish CBI factory orders and business optimism index for the third quarter, alongside UK Finance mortgage approvals. Elsewhere in Europe, investors will turn their attention to the ECB policy meeting, at which policymakers are expected to unveil further clues on the central bank’s ambiguous timeline of rate hikes. Flash Markit PMIs for the Eurozone, Germany and France will also be in the spotlight, as well as business and consumer surveys for Germany, France and Italy. Other key highlights are: Eurozone flash consumer sentiment; France preliminary reading of Q2 GDP growth; Spain second-quarter unemployment rate; and Turkey interest rate decision.

In Japan, analysts are eyeing the publication of flash Nikkei Manufacturing PMI; while in Australia markets will focus on inflation for the second quarter.

Other important figures include: South Korea Q2 GDP growth; Russia interest rate decision; and Mexico unemployment e trade balance.



Joana Ferreira | joana.ferreira@tradingeconomics.com
7/20/2018 4:12:35 PM



 


Friday July 20 2018 Actual Previous Consensus
04:00 AM
TH
Balance of Trade JUN $1.58B $1.2B
04:30 AM
NL
Consumer Confidence JUL 23 23
06:00 AM
DE
PPI MoM JUN 0.3% 0.5%
08:30 AM
SK
Unemployment Rate JUN 5.4% 5.4%
08:30 AM
ES
Balance of Trade MAY €-2.15B €-3.1B
10:00 AM
LU
Unemployment Rate JUN 5.5% 5.6%
10:15 AM
SI
Unemployment Rate MAY 8.1% 8.3%
12:30 PM
CA
Inflation Rate YoY JUN 2.5% 2.2%
12:30 PM
CA
Core Inflation Rate YoY JUN 1.3% 1.3%
12:30 PM
CA
Inflation Rate MoM JUN 0.1% 0.1%
12:30 PM
CA
Retail Sales MoM MAY 2% -0.9% ®
Saturday July 21 2018 Actual Previous Consensus
AR
G20 Fin Ministers and CB Governors Meeting
Monday July 23 2018 Actual Previous Consensus
07:00 AM
TR
Consumer Confidence JUL 73.1 70.3
07:15 AM
NG
Inflation Rate YoY JUN 11.23% 11.61%
08:00 AM
TW
Unemployment Rate JUN 3.68% 3.69%
10:00 AM
DE
Bundesbank Monthly Report
12:30 PM
US
Chicago Fed National Activity Index JUN 0.43 -0.45 ®
02:00 PM
EA
Consumer Confidence Flash JUL -0.6 -0.6 ®
02:00 PM
US
Existing Home Sales MoM JUN -0.6% -0.7% ®
02:00 PM
US
Existing Home Sales JUN 5.38M 5.41M ®
05:00 PM
GB
BoE Broadbent Speech
Tuesday July 24 2018 Actual Previous Consensus
12:30 AM
JP
Nikkei Manufacturing PMI Flash JUL 51.6 53.0
06:00 AM
FI
Unemployment Rate JUN 6.7% 9.3%
06:45 AM
FR
Business Confidence JUL 108 109 ®
07:00 AM
FR
Markit Manufacturing PMI Flash JUL 53.1 52.5
07:00 AM
FR
Markit Services PMI Flash JUL 55.3 55.9
07:30 AM
DE
Markit Services PMI Flash JUL 54.4 54.5
07:30 AM
DE
Markit Manufacturing PMI Flash JUL 57.3 55.9
08:00 AM
EA
Markit Services PMI Flash JUL 54.4 55.2
08:00 AM
EA
Markit Manufacturing PMI Flash JUL 55.1 54.9
08:00 AM
PL
Unemployment Rate JUN 5.9% 6.1%
10:00 AM
GB
CBI Business Optimism Index Q3 -3 -4
10:00 AM
GB
CBI Industrial Trends Orders JUL 11 13
11:00 AM
TR
TCMB Interest Rate Decision 17.75% 17.75%
12:00 PM
HU
Interest Rate Decision 0.9% 0.9%
12:00 PM
HU
Deposit Interest Rate JUL -0.15% -0.15%
01:30 PM
NG
Interest Rate Decision 14% 14%
01:45 PM
US
Markit Composite PMI Flash JUL 55.9 56.2
01:45 PM
US
Markit Manufacturing PMI Flash JUL 55.5 55.4
01:45 PM
US
Markit Services PMI Flash JUL 56.2 56.5
08:30 PM
US
API Crude Oil Stock Change 20/JUL -3.16M 0.629M
09:00 PM
KR
Consumer Confidence JUL 101 106
10:00 PM
CL
Interest Rate Decision 2.5% 2.5% ®
Wednesday July 25 2018 Actual Previous Consensus
01:30 AM
AU
Inflation Rate YoY Q2 2.1% 1.9%
01:30 AM
AU
Inflation Rate QoQ Q2 0.4% 0.4%
08:00 AM
DE
Ifo Current Conditions JUL 105.3 105.2 ®
08:00 AM
DE
Ifo Expectations JUL 98.2 98.5 ®
08:00 AM
DE
Ifo Business Climate JUL 101.7 101.8
08:30 AM
GB
UK Finance Mortgage Approvals JUN 40.541K 39.528K ®
09:00 AM
HR
Unemployment Rate JUN 8.8% 9.2%
10:00 AM
FR
Unemployment Benefit Claims JUN -1.8K 10.3K
11:30 AM
TR
Business Confidence JUL 102.7 104.6
11:30 AM
TR
Capacity Utilization JUL 77.1% 78.3%
02:00 PM
US
New Home Sales MoM JUN -5.3% 3.9% ®
02:00 PM
US
New Home Sales JUN 0.631M 0.666M ®
02:30 PM
US
EIA Gasoline Stocks Change 20/JUL -2.328M -3.165M
02:30 PM
US
EIA Crude Oil Stocks Change 20/JUL -6.147M 5.836M
11:00 PM
KR
GDP Growth Rate YoY Adv Q2 2.9% 2.8%
11:00 PM
KR
GDP Growth Rate QoQ Adv Q2 0.7% 1%
Thursday July 26 2018 Actual Previous Consensus
06:00 AM
DE
GfK Consumer Confidence AUG 10.6 10.7
06:00 AM
NO
Unemployment Rate MAY 3.8% 3.7%
06:45 AM
FR
Consumer Confidence JUL 97 97
07:00 AM
ES
Unemployment Rate Q2 15.3% 16.74%
07:30 AM
SE
Unemployment Rate JUN 7.2% 6.5%
08:00 AM
IT
Business Confidence JUL 106.9 106.9
08:00 AM
IT
Consumer Confidence JUL 116.3 116.2
11:45 AM
EA
Marginal Lending Rate 0.25% 0.25%
11:45 AM
EA
ECB Interest Rate Decision 0% 0%
11:45 AM
EA
Deposit Facility Rate -0.4% -0.4%
12:30 PM
EA
ECB Press Conference
12:30 PM
US
Durable Goods Orders Ex Transp MoM JUN 0.4% 0.3% ®
12:30 PM
US
Wholesale Inventories MoM Adv JUN 0% 0.4% ®
12:30 PM
US
Durable Goods Orders MoM JUN 1% -0.3% ®
01:00 PM
MX
Unemployment Rate JUN 3.4% 3.2%
03:00 PM
US
Kansas Fed Manufacturing Index JUL 22 38
Friday July 27 2018 Actual Previous Consensus
03:30 AM
SG
Unemployment Rate Prel Q2 2.1% 2%
05:00 AM
TH
Unemployment Rate JUN 1.1% 1%
05:30 AM
FR
GDP Growth Rate QoQ 1st Est Q2 0.2% 0.2%
07:00 AM
HU
Unemployment Rate JUN 3.6% 3.7%
10:30 AM
RU
Interest Rate Decision 7.25% 7.25%