The Week Ahead

3pm – eurozone consumer confidence (July, flash): index to rise to -13.6 from -14. Markets to watch: EUR crosses

3pm – US existing home sales (June): sales forecast to rise 3% from a -0.7% fall in May. Markets to watch: USD crosses

1.30am – Japan PMI (July, flash) Markets to watch: JPY crosses

7am – German consumer confidence (August): index to rise to -19.5. Markets to watch: EUR crosses

8.30am – German PMI (July, flash): manufacturing PMI to rise to 44.2 from 43.5. Markets to watch: EUR crosses

9.30am – UK PMI (July, flash): manufacturing PMI expected to rise to 52.5 from 52.3, and services PMI to rise to 52.3 from 52.1. Markets to watch: GBP crosses

2.45pm – Bank of Canada rate decision: rates expected to remain unchanged at 4.75%. Markets to watch: CAD crosses

2.45pm – US PMI (July, flash): manufacturing PMI forecast to rise to 52.4 from 51.6, and services to rise to 55.4 from 55.3. Markets to watch: USD crosses

3pm – US new home sales (June): sales forecast to rise 2% MoM from -11.3%. Markets to watch: USD crosses

3.30pm – US EIA crude oil inventories (w/e 19 July): stockpiles fell by 4.87 million barrels in the previous week. Markets to watch: Brent, WTI

9am – German IFO business climate index (July): previous reading 88.6. Markets to watch: EUR crosses

1.30pm – US durable goods orders (June) GDP (Q2, advance reading), initial jobless claims (w/e 20 July): orders forecast to rise 2.1% from 0.1%. GDP forecast to rise 2.5% from 1.4%. Claims expected to rise to 245K after rising sharply to 243K in the preceding week. Markets to watch: US indices, USD crosses

1.30pm – US PCE price index (June): prices forecast to rise 0.1% Month-over-month (MoM) and 2.5% year-over-year (YoY), from 0% and 2.6%, and core PCE to rise 0.2% MoM from 0.1%. Markets to watch: US indices, USD crosses

Monday

1.30pm – US Chicago Fed nat’l activity index (June): expected to rise to 0.3 from 0.18. Markets to watch: USD crosses

Tuesday

10am – German ZEW index (July): expected to fall to 46. Markets to watch: EUR crosses

1.30pm – US retail sales (June): forecast to rise 0.1% MoM. Markets to watch: USD crosses

1.30pm – Canada CPI (June): prices forecast to rise 2.9% YoY. Markets to watch: CAD crosses

Wednesday

1.30am – Japan PMI (July, flash) Markets to watch: JPY crosses

7am – German consumer confidence (August): index to rise to -19.5. Markets to watch: EUR crosses

8.30am – German PMI (July, flash): manufacturing PMI to rise to 44.2 from 43.5. Markets to watch: EUR crosses

9.30am – UK PMI (July, flash): manufacturing PMI expected to rise to 52.5 from 52.3, and services PMI to rise to 52.3 from 52.1. Markets to watch: GBP crosses

2.45pm – Bank of Canada rate decision: rates expected to remain unchanged at 4.75%. Markets to watch: CAD crosses

2.45pm – US PMI (July, flash): manufacturing PMI forecast to rise to 52.4 from 51.6, and services to rise to 55.4 from 55.3. Markets to watch: USD crosses

3pm – US new home sales (June): sales forecast to rise 2% MoM from -11.3%. Markets to watch: USD crosses

3.30pm – US EIA crude oil inventories (w/e 19 July): stockpiles fell by 4.87 million barrels in the previous week. Markets to watch: Brent, WTI

Thursday

9am – German IFO business climate index (July): previous reading 88.6. Markets to watch: EUR crosses

1.30pm – US durable goods orders (June) GDP (Q2, advance reading), initial jobless claims (w/e 20 July): orders forecast to rise 2.1% from 0.1%. GDP forecast to rise 2.5% from 1.4%. Claims expected to rise to 245K after rising sharply to 243K in the preceding week. Markets to watch: US indices, USD crosses

Friday

1.30pm – US PCE price index (June): prices forecast to rise 0.1% MoM and 2.5% YoY, from 0% and 2.6%, and core PCE to rise 0.2% MoM from 0.1%. Markets to watch: US indices, USD crosses