US CPI and UK employment amongst market movers today – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts point out that in the UK, the labour market report for June is due out and will be a key economic release for the day.

Key Quotes

“The growth rates in wages and employment have been fairly high despite rather weak economic momentum. The question is whether this can continue or the labour market will start to show signs of moderation.”

“In the euro area, the main focus is on the German Zew. We expect the Zew to decline further and hence continue to point to a gloomy outlook in the uncertain global environment and the escalation of trade war.”

“In the US, CPI core is being released. We expect it rose +0.2% m/m in July, which translates into an unchanged annual inflation rate at 2.1% y/y.”

“Overnight in China we get a batch of releases including industrial production, retail sales and fixed asset investments. In line with consensus, we expect the data still to paint a soft picture of the Chinese economy, but not a hard landing. Retail sales growth moved sharply higher but we expect it to have fallen back to around 8-8½% in July.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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