Looking ahead to next week’s economic calendar events

David Hobart
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Now that one foreign exchange trading week has drawn to a close, it’s time to start looking at what the economic calendar holds for next week.

There may be some slowdown in Asian trading on Monday morning due to the Marine Day holiday in Japan, which will see banks close.

Other Asian economies will continue to operate, however. China’s house price index for June will be out at 1.30am GMT. This was last recorded at 10.7%.

Gross domestic product information from China is expected at 2am GMT, covering the second quarter of the year. This is expected to show a slight drop from 6.4% to 6.2%. From a quarter on quarter perspective, it is expected to rise from 1.4% to 1.5%.

Elsewhere, New Zealand will release its consumer price index for the second quarter of 2019 at 10.45pm GMT. This is predicted to show a change from 0.1% to 0.3%.

On Tuesday, the minutes from the last Reserve Bank of Australia meeting, which took place two weeks ago, will be released at 1.30am GMT.

At 8.30am GMT, all eyes will be on the UK where average earnings for the month of May will be out. Including bonuses, this is forecast to show a change from 3.1% to 3%. The pound has suffered in the forex markets recently due to concerns over British economic performance and the ongoing political turmoil of Brexit and a Conservative Party leadership election. It is likely that this release will be watched as an indicator of whether the Bank of England may choose to change interest rates at its next meeting.

German economic sentiment will be scrutinised at 9am GMT on Tuesday when the ZEW survey covering July comes out. This is expected to show a change from -21.1 to -19 when it is released to the public.

A speech from Raphael W. Bostic, President and CEO of the Federal Reserve Bank of Atlanta, will occur at 12.15pm GMT.

Retail sales data for June is out of the US just after this at 12.30pm GMT. In the control group, this is expected to reveal no change from 0.4%.

On Wednesday, British retail price index data for June will be out at 8.30am GMT. This is predicted to show a year on year shift from 3% to 2.9%.

Producer price index information for June will be out at 8.30am GMT. In terms of year on year output, this is expected to change from 1.8% to 1.7%. Consumer price index data for the country will come at this time, too. Year on year, June’s figures are forecast by analysts to hold firm at 2%.

The Bank of Canada’s core consumer price index for June will be out at 12.30pm GMT. Year on year, this was last recorded at 2.1%.

Thursday, the Australian unemployment rate for June will be released at 12.30am GMT. This was last noted at 5.2%, while overall employment change figures in the country were noted at 42,300.

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David Hobart
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