Deutsche Bank analysts point out that data releases for the day includes the June empire manufacturing and NAHB housing market index readings in the US.
Key Quotes
“ECB officials will also meet in Sintra for a three-day gathering, with Draghi due to speak. Public hearings will also begin in Washington on Trump's proposed tariffs on $300bn of Chinese goods.”
“Tuesday: Overnight, China's new home prices data for May will be released, while in Europe we'll get May PPI in Germany, April trade balance for the Euro Area, final May CPI revisions for the Euro Area and June ZEW survey in Germany. In the US we're due to get May housing starts and building permits data. The second ballot for the UK Conservative Party leadership contest will also take place.”
“Wednesday: The highlight will be the Fed meeting in the evening. In terms of data, we'll get May trade data in Japan, the May CPI report and June CBI survey data in the UK and April construction output for the Euro Area. The EIA crude oil report will also be due.”
“Thursday: Overnight, the BoJ policy meeting is scheduled, while during the day the BoE policy meeting is due. In terms of data, May retail sales data in the UK is scheduled while in the US the latest claims reading, Q1 current account balance, June Philly Fed survey and May leading index are all due. The June consumer confidence reading for the Euro Area is also due in the afternoon. Away from that EU leaders commence a two-day meeting, where the appointment of the new heads of the Commission and ECB will be discussed. The BoE's Carney is due to speak in the evening while the ECB's Guindos speaks during the day.”
“Friday: The data highlight are the flash June PMIs around the world. As well as that we'll get May CPI in Japan, May public finances data in the UK and May existing home sales in the US. The Fed's Brainard, Mester and Daly are also due to speak.”
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