Economic calendar: Industrial data from the UK

Summary:

• Industrial and construction output from the UK to be released before noon
• SNB’s weekly update on sight deposits
• Two central bankers on the agenda on Monday

9:00 am BST - SNB’s data on sight deposits: This data has gathered more attention when the Swiss currency has begun appreciating. Let us notice that rising sight deposits at the SNB signal the central bank may have intervened in the market in order to weaken the franc. 

9:30 am BST - Industrial and foreign trade data from the UK for July: It will be another important week for the British currency in terms of continued Brexit developments. Before everybody focuses on this never-ending story, market participants should pay attention to industrial data for July. The consensus points to a 0.3% MoM decline when it comes to industrial production, and manufacturing output is forecast to have shrunk by the same number as well. On top of that, construction output is forecast to have risen 0.2% in monthly terms. Along with industrial data we will also get foreign trade data with an expected trade shortfall of 1.5 billion GBP. 

2:00 pm BST - Russian GDP for Q2 (preliminary)

8:00 pm BST - US consumer credit for July

Central bankers’ speeches:

• 9:00 am BoE’s Vlieghe

• 1:20 pm BST - ECB’s Hakkarainen