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ECB decision, major US data releases all expected next week

There’s a lot on the cards in the forex trading world next week, so it’s worth doing some research into the economic calendar.

Monday, there will be a monthly report from the Germans Bundesbank, which is the nation’s central bank, released at 10am GMT.

Later on there’ll be an activity index release from the Chicago branch of the US Federal Reserve, which is expected to come out at 12.30pm GMT and will cover the month of June. This was last recorded at -0.05.

There’ll be a speech at 10.30pm GMT from Christopher Kent, who is the Assistant Governor (Economic) at the Reserve Bank of Australia.

Looking ahead to Tuesday of next week, the European Central Bank will release its bank lending survey at 8am GMT. This could hold some clues as to the health of the Eurozone’s economy, and could also indicate what direction the Bank will go in when it meets to discuss interest rates.

Existing home sales data will be released from the US at 2pm GMT, covering the month of June. Month on month, this is expected to show a change from 2.5% to 1.2% – which is a fairly significant drop, and one which could worry some dollar traders.

Preliminary European consumer confidence data for the month of July will be out at 2pm GMT and is expected to show no change from its previous position of -7.2.

On Wednesday, the day will kick off with a leading economic index out of Japan covering the month of May. This will be out at 5am GMT and is expected to hold firm at 95.2.

Preliminary German Markit manufacturing PMI data is due out at 7.30am GMT. This is expected to show a shift from 45 to 45.1.

On Thursday, the day will be launched with a speech from the Reserve Bank of Australia’s governor Philip Lowe, which is scheduled to take place at 3.05am GMT.

The European Central Bank is set to make its interest rate decision at 11.45am GMT, and that is expected to be the main event of the day. The interest rate is set to remain firm at 0%, with many analysts convinced that a rate rise is almost out of the question. Its deposit rate is also set to remain the same, at -0.4%. A statement and press conference on the matter will be held three quarters of an hour later at 12.30pm GMT.

At the same time, over the Atlantic there will be a non-defence capital foods order release in the US. Excluding aircraft, and covering the month of June, this is expected to show a shift from 0.5% to 0.1%.

The Tokyo consumer price index excluding fresh food and covering the month of July will come out at 11.50pm GMT and is expected to show a year on year change from 0.9% to 0.8%.

On Friday, preliminary annualised gross domestic product data from the US for the second quarter of 2019 will be out at 12.30pm GMT. This is expected to show a change from 3.1% to 1.9%.

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