Key focus on German, Euro area GDP and UK CPI – Danske Bank
The Danske Bank analysts enlist a few key economic events of note, due on the cards later in the day ahead.
Key Quotes:
“Financial markets will be looking to the developments in Hong Kong amid the stand-off with China, while also, any response from China to the delay in the US imposing tariffs until December will be in focus. Finally, the prospects of a wider contagion effects from the crisis in Argentina is a possible market mover in emerging markets.
In terms of data releases, a key focus point in the Euro area is the GDP release for Q2. We expect an unchanged euro area GDP growth figure from the advance estimate (0.2% q/q), but with the first release of the drivers we will assess if investments are still holding up amid the global uncertainty.
Furthermore, the ailing German economy will publish its first Q2 GDP estimate. We expect 0.1%, but we acknowledge a downside risk to our forecast.
In the UK, CPI inflation in July is due out, where consensus is for unchanged core inflation compared to June at 1.8%.
In the Nordic region, the Swedish CPI data is one of the more anticipated releases.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
