German IFO and UK’s CBI industrial orders in focus today - TDS

Analysts at TDS suggest that in today’s session German IFO and CBI industrial orders data from UK are going to be the key economic releases.

Key Quotes

“We’re in line with consensus in expecting a marginal fall in Germany’s IFO survey for July, with the headline business climate index slipping from 115.1 to 114.9. While yesterday’s PMI report didn’t mention any concern over the strength of the euro so far, we’ll be watching to see if IFO respondents have anything different to say.”

“UK: Markets are looking for CBI industrial orders to fall from +16 to +12 in July, which would still be an extremely elevated level from a historical perspective, for an index that had an average level of -12 over the last 10 years. Also, the BoE’s Haldane speaks at 6pm BST at The Finance Foundation’s Annual Lecture. No text is due to be released, but we’ll be watching to see if any headlines leak out, and whether Haldane elaborates on the view in his last speech that “beginning the process of withdrawing some of the incremental stimulus provided last August would be prudent moving into the second half of the year,” and whether he might vote for a hike next week or hold off for a while.”