Monday is here, and that means there’s another whole week worth of economic calendar events, data releases and more for forex traders to think about.
Today (Monday) is perhaps the most sparse day of the week when it comes to calendar events. Nothing is scheduled until the afternoon, when the monthly World Agricultural Supply and Demand Estimates report from the United States Department of Agriculture is due out at 4pm GMT.
This report covers agriculture rather than industry, and it is usually the latter which is considered more important to the health of the US economy. However, the release is likely to still be monitored by many.
At 10pm GMT, there will be some remarks delivered by a senior Antipodean central banker. Christopher Kent, Assistant Governor covering the Economic brief at the Reserve Bank of Australia, is due to speak.
Looking ahead to Tuesday, Germany’s beleaguered economy will be back in the spotlight when the country’s consumer price index for July is released at 6am GMT. This is expected to show a year on year on standstill, with figures not changing from 1.7%.
Preliminary Japanese machine tool orders for July will be out at the same time and are again expected to show no change, this time from 1.1%, on a year on year basis.
British unemployment figures are out at 8.30am GMT, and these are expected to complete a hat trick of major releases which show no change. The British release is set to remain at 3.8%, covering June. These figures are calculated by National Statistics.
The US consumer price index for July will be out at 12.30pm GMT. This is predicted to show a month on month change from 0.1% to 0.3% over the course of July. Excluding food and energy, however, the same metric is expected to show a drop from 0.3% to 0.2%.
On Wednesday, Chinese retail sales data for July is due to be released at 2am GMT. It is expected that this data will show a drop from 9.8% to 8.6%. Some are likely to blame this on the new tariffs placed on imports of US goods in recent weeks as a result of US President Donald Trump’s change in policy.
Preliminary German gross domestic product data will be out at 6am GMT, covering the second quarter of 2019. Quarter on quarter, this is likely to show a change from 0.4% to -0.1%.
At 7.30am GMT, there will be a speech from Guy Debelle, who is the Assistant Governor responsible for the Financial Markets at the Reserve Bank of Australia.
British consumer price index figures for July will be out at 8.30am GMT. These are expected to show a year on year change from 1.8% to 1.7%.
Preliminary European gross domestic product figures for the second quarter of the year are out at 9am GMT. Year on year, this is expected to show no change from 1.1%, and based on the last quarter, no change from 0.2%.