Markets: What to look out for this week? – Deutsche Bank

Analysts at Deutsche Bank suggest that it's a fairly quiet start to the week today with the only data of note in Europe being the June IFO survey in Germany, while in the US we'll have the May Chicago Fed national activity index, May new home sales, and June Dallas Fed manufacturing activity index.

Key Quotes

“Tuesday: Overnight in Japan we'll get the May PPI print, before the focus turns to the UK with the June CBI retail sales report. In the US the most significant data due out is the June consumer confidence reading, while the June Richmond Fed manufacturing index and April S&P CoreLogic house prices index data are also due. Away from that the ECB's Hansson is due to speak in the morning while in the evening we're due to hear from the Fed's Bostic and Kaplan. German Chancellor Merkel is also due to hold private talks with her coalition partners on refugee policy and euro area reform.”

“Wednesday: In Asia on Wednesday we're due to get Q1 money flow data from the BoJ and May industrial profits data in China. In Europe it is fairly quiet with June consumer confidence data in France and May E3 money supply data for the Euro area due. In the US the main focus will likely be on the preliminary May durable and capital goods orders data, while the May advance goods trade balance is also due along with May pending home sales. Central bank speak continues with the BoE's Carney speaking in the morning about the BoE's Financial Stability Report, followed later by the ECB's Praet and Fed's Rosengren.”

“Thursday: The big focus on Thursday will likely be the EU Summit in Brussels where leaders are due to discuss migration policy, the EU budget, Brexit, security and reforming the economic and monetary union. Datawise, it is looking like a busy day for inflation releases in Europe with preliminary June CPI reports due in Spain, Italy and Germany. We'll also get June confidence indicators for the Euro area while in the US the third and final reading for Q1 GDP and Core PCE is due, as well as the June Kansas City Fed manufacturing activity index and latest weekly initial jobless claims data. The Fed's Bullard and Bostic are also both due to speak in the late afternoon. The Fed will also release part two of its annual bank stress test results.”

“Friday: Friday looks set to be another busy day for inflation releases with preliminary June CPI reports due in France and the Euro area, followed by the May PCE report for the US. Other data worth watching includes May employment data in Japan, June unemployment data in Germany, May money and credit aggregates data and the final Q1 GDP print in the UK, and May personal income and spending, June Chicago Fed PMI and final June University of Michigan consumer sentiment revisions in the US.”