The middle of this foreign exchange trading week has an especially heavy calendar associated with it.
Today (Tuesday), there will be a variety of European figures released. The Current Situation index published by the Zentrum für Europäische Wirtschaftsforschung, covering August, will be out of Germany at 9am GMT. It is expected to show a move from -1.1 to -7.0, a significant decline which could spark further worries about the performance of the Eurozone’s largest economy.
The Economic Sentiment index, which is out at the same time, is expected to show a change from -24.5 to -28.5.Europe-wide economic sentiment as measured by the same organisation will be out at 9am GMT. This is expected to show a dip from -20.3 to -21.7, a move which is likely to be fuelled by the poor performance of Germany.
American consumer prices for July will dominate the lunchtime slot. Consumer price index information for July will be out at 12.30pm GMT, and this is expected to show a rise from 0.1% to 0.3% month on month. Year on year, the rise is expected to go from 1.6% to 1.7%.
Japanese machinery orders data for June will be out at 11.50pm GMT and is expected to show a change from -3.7% to -0.6% year on year.
Looking ahead to tomorrow (Wednesday), Australian consumer confidence data for August will be released by major regional bank Westpac at 12.30am GMT. This was last recorded at -4.1%.
Chinese retail sales data will be out at 2am GMT, covering the month of July. This is expected to show a change from 9.8% to 8.6%.
French consumer price index data for July will be out a 6.45am GMT. Year on year, this is expected to remain firm at 1.3% as compared to the EU norm.
Over in the UK, the retail price index for July will be out at 8.30am GMT. Month on month, this is expected to show a change from 0.1% to 0%.
Consumer price index data for July will be out at 8.30am GMT. Year on year, this is forecast by analysts to be about to go down from 2% to 1.9%.
Preliminary European gross domestic product will be a major test of the Eurozone’s economic strength, and data on this is due to come out at 9am GMT. It will cover the second quarter of the year and is expected to show no quarter on quarter change from 0.2%. Year on year, it is due to hold firm at 1.1%.
The day will be rounded off by a speech from a prominent central banker in Australia at 11pm GMT. Guy Debelle, who is the Assistant Governor for Financial Markets at the Reserve Bank of Australia, will speak then.
On Thursday, a number of major economies will close their banks as a result of the Assumption Day holiday. These will include France, Spain and Italy, meaning that Eurozone trading could well be slower.
Australian unemployment figures are also due that day. Employment change statistics out at 1.30am GMT for July are due to show a change from 500 to 14,000.