Summary
- August’s CPI reading for the euro area
- Canadian economy expected to had grown 3% YoY in Q2 2019
- Olli Rehn to speak at 10:00 am BST
9:00 am BST - Poland, GDP for Q2 2019 and CPI for August. Today’s GDP data from Poland will be the second release for Q2 2019 therefore scope for a surprise is smaller. The reading is expected to confirm the 4.4% YoY pace of growth signalled by the preliminary release. Price growth data for August is expected to show a slight deceleration from 2.9% YoY to 2.8% YoY.
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Open account Try demo Download mobile app Download mobile app10:00 am BST - Euro area, CPI inflation for August. CPI inflation data for August from Spain, Belgium and Germany, that was released yesterday, showed a deceleration in price growth in all three countries. In turn, there is a high chance that the reading for the whole euro area will show lower values as well. However, market consensus points to the headline CPI gauge staying unchanged at 1% YoY. Market reaction to the reading may be magnified by the speech of Olli Rehn, the Governor of the Bank of Finland and ECB member, as it will begin at 10:00 am BST as well.
1:30 pm BST - US, PCE inflation for July. PCE is the Fed's preferred price growth measure therefore it is always worth to keep track of it. Reading for July is expected to show core PCE staying unchanged at 1.6% YoY. Such a reading could support dovish bias as it would show that the price growth remains well below the Fed's target.
1:30 pm BST - Canada, GDP report for Q2 2019. While the latest data from Canada was not too bad, the Canadian dollar kept depreciating against the US peer. Today’s GDP reading is expected to show a 3% YoY growth for Q2 2019 and 0.1% MoM for June. However, one should be wary that when it comes to Canada market is focused on the upcoming BoC meeting (4th September).
3:00 pm BST - US, Michigan consumer sentiment for August. Preliminary reading of the Michigan consumer sentiment index for August showed a major drop from 98.4 pts to 92.1 pts. However, Conference Board data released some time later saw just a minor downtick. Having said that, an upward revision may be made to Michigan indices.
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