The data on activity and inflation in the euro area, as well as the final figures for the manufacturing PMIs for Spain, Germany and the United Kingdom will mark the markets’ agenda next week. This Monday will begin with the inflation and GDP data in the euro zone, according to Singular Bank analysts. A day later the PMI manufacturing and the unemployment rate for the euro zone will be published.
As IG analyst Álvaro Huerta has pointed out to EFE, the CPI and GDP data in the euro zone are very relevant, since central banks look closely at them when making decisions about interest rate hikes, as well as the PMI, which is a leading indicator of the health of the economy and is also monitored by these entities.
With an eye on the USA
Likewise, Huerta has referred to the publication in the US of the results of Amazon and Apple, which, being highly valued companies, can move the market in one direction or another, according to his accounts.
Federal (Fed) and the European Central Bank (ECB) to raise interest rates by 25 basis points, and it will be the turn for exports and imports, the German trade balance, as well as the PMI for services in this country and for Spain, and the PPI in the euro zone. The market consensus projects a further rise in interest rates by the Bank of England of 50 basis points to 5.50%.
In the US, the week will begin with the release of the Chicago PMI and the Dallas Fed Mfg Business Index, while a day later, on Tuesday, the Redbook Retail Sales Index, the Manufacturing PMI, construction and the ISM Manufacturing Employment Index, as well as the July ISM Manufacturing PMI.
The JOLT survey of job openings, Dallas Fed service sector earnings and Texas service sector forecasts will also be released. A day later, on Wednesday, it will be the turn of the MBA Purchase and Mortgage Market Index, as well as the IEA Crude Oil Inventories. On Thursday, renewals and jobless claims will be released, as well as the services PMI and the ISM non-manufacturing employment index.
On the last day of the week, the unemployment rate and private non-farm payrolls for the month of July will be released, as well as the number of oil rigs and the Baker Hughes US field count.
In the Asia-Pacific region, industrial production data, Japanese construction orders and retail sales, and China composite PMI will be released on Monday. Japan’s unemployment rate and manufacturing PMI will be reported on Tuesday. The service sector PMI in Japan will be released on Thursday, followed by the Caixin services PMI in China on the same day.