Summary
- German inflation seen slowing slightly in July
- A pack of important US data ahead of tomorrow’s FOMC decision
1:00 pm BST - Germany, CPI inflation for July. Spanish price growth data published yesterday disappointed in terms of both the headline and core readings. In case the German inflation also disappoints euro may feel the pain and ECB may be even more encouraged to ease its policy. Today’s data will serve as a final check ahead of tomorrow’s reading for the whole euro area. Market consensus expects a deceleration from 1.6% YoY to 1.5% YoY.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app1:30 pm BST - US, PCE inflation for June. Donald Trump pointed to low inflation numerous times when he was criticizing the actions of the Federal Reserve. He might have had a point as PCE inflation, Fed’s preferred measure, stayed below 2% goal in 2019 so far. With FOMC scheduled to deliver decision tomorrow, PCE inflation should be watched closely.
3:00 pm BST - US, Pending Home Sales for June and Conference Board for July. The US housing market data has been quite mixed as of late. However, as Fed is set to cut rates, the US housing market may see a rebound in the months to come. Today’s reading is expected to show 0.5% MoM increase. Apart from that, CB consumer confidence index for July will be released and it is expected to jump from 121.5 to 125 pts.
9:40 pm BST - API report on oil inventories. Last week saw another major drop in oil stockpiles. Nevertheless, crude prices failed to catch a bid and remained near levels observed for the past two weeks. A point to note is that discrepancy between API and DOE reports last week was only 126k. Having said that, today’s reading may be used as a kind of a hint ahead of tomorrow’s release.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.