Today’s session will feature mostly smaller data releases, mainly from the Eurozone. The PMI data season is coming to an end, although a batch of construction sector reports is still due on Wednesday. Eurozone retail sales will be the most significant release today, especially in the context of a recovering domestic demand amid a new trade reality.
On the other side of the Atlantic, attention turns to the EIA report on energy commodities and speeches from Federal Reserve members. Overnight, China will publish its latest trade balance, which is particularly significant in light of tariffs, ongoing U.S. negotiations, and China’s export-driven economic model.
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Economic Calendar for Today:
07:00 BST, Germany – Factory Orders for June:
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Actual: -1.0% MoM; Forecast: 1.2% MoM; Previous: -0.8% MoM
09:00 BST, Italy – Industrial Production for June:
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Forecast: -0.1% MoM; Previous: -0.7% MoM
09:30 BST, United Kingdom – July PMI Report:
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Construction PMI: Forecast: 48.9; Previous: 48.8
10:00 BST, Eurozone – Retail Sales for June:
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MoM: Forecast: 0.4%; Previous: -0.7%
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YoY: Forecast: 2.6%; Previous: 1.8%
15:30 BST, United States – EIA Report:
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Crude Oil Inventories: Forecast: +0.200M; Previous: +7.698M
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Refinery Crude Runs WoW: Previous: -0.025M
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Crude Oil Imports: Previous: 1.317M
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Cushing Crude Inventories: Previous: 0.690M
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Distillate Fuel Production: Previous: 0.130M
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Distillates Stocks: Previous: 3.635M
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Gasoline Production: Previous: 0.676M
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Heating Oil Inventories: Previous: 0.739M
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Weekly Refinery Utilization: Previous: -0.1% WoW
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Gasoline Inventories: Previous: -2.724M
18:00 BST, United States – 10-Year Treasury Auction: Previous: 4.362%
19:00 BST, United States – Fed Members Cook and Collins Speak
21:10 BST, United States – FOMC Member Daly Speaks
02:30 BST (next day), Australia – Trade Balance for June
04:00 BST (next day), China – Trade Balance for June
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