- Producer Price Index (PPI) in the USA
- ECB Minutes from the June Meeting
- European indices to open higher in today's cash session
European futures indices indicate a slightly higher opening for the cash session in Europe. CFD contracts for the DAX (DE30) are trading above 16,100 points. Today, investors will receive another top tier macro data. In Europe, several smaller countries will publish CPI data and industrial production figures. However, the most significant event in the European market will be the publication of the ECB minutes from the latest meeting.
Moving to the US market, the most important macro publication will be the readings of Producer Price Index (PPI) inflation, but investors will also receive initial jobless claims. A decrease in inflation to 0.4% YoY and core inflation to 2.7% YoY is expected. Today's PPI data for June is expected to reinforce the deflationary trends observed in the global economy.
Detailed macro calendar:
7:30 am BST - Hungary, Industrial Production:
- n.s.a. - Expected: -6.9% YoY, Previous: -8.3% YoY
- s.a. - Expected: 1.6% MoM, Previous: -2.5% MoM
7:45 am BST - France, CPI:
- CPI: Expected: 4.5% YoY, Previous: 5.1% YoY
12:30 pm BST - ECB, Minutes publication
1:30 pm BST - USA, PPI for June:
- Headline: Expected: 0.4% YoY, Previous: 1.1% YoY
- Core: Expected: 2.7% YoY, Previous: 2.8% YoY
1:30 pm BST - USA, Initial Jobless Claims:
- Expected: 250k, Previous: 248k
Daily summary: Muted rebound on Wall Street ๐ฝ Metals attempt to recover as the U.S. dollar weakens
Bank of Canada holds rates unchanged - will USDCAD react?
RBNZ raises interest rates again, yet NZD falls after the decision โ๏ธ
Economic calendar: central bank decisions and US ADP report in focus ๐