The NFP report showed another sign that the labor market is doing well and on its road towards full employment; this also means a higher chance of a rate hike this year. The BOE also helped weaken its pound by expanding its asset purchase program and cut rates; these recent developments could suggest the USD will keep gaining some ground against the majors. This week’s main events and reports include: China’s trade balance, U.S. retail sales, German GDP for Q2, JOLTS report, Governor Stevens speaks, GB manufacturing production, U.S. PPI and consumer sentiment.
(All times GMT):
Monday, August 8th
Tentative – China’s Trade Balance: China’s trade balance surplus has contracted last month and is expected to moderately expand in the upcoming report; this update provides another indication for the economic activity in the world’s second largest economy;
Tuesday, August 9th
09:30 – Great Britain Manufacturing Production: This report will show the annual rate of GB’s manufacturing production for June; in the recent report regarding May 2016 the index decreased by 0.5%; this time, the estimates are for no change;
04:05 – Governor Stevens speaks: Reserve Bank of Australia Governor will speak at the Anika Foundation Luncheon, in Sydney;
Wednesday, August 10th
15:00 – U.S. JOLTS Job Openings: The Bureau of Labor Statistics will publish its monthly report on the U.S number of job openings for June, excluding the farming industry; in the recent update for May, the number of jobs opening declined to 5.50 million; in the upcoming report, the number is expected to slightly rise to 5.52 million;
15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will publish its weekly report on the U.S oil and petroleum stockpiles for the week ending on August 5th;
Thursday, August 11th
13:30 – U.S. Jobless Claims Weekly Report: This weekly report will refer to the changes in the initial jobless claims for the week ending on August 5th; in the previous report, jobless claims rose to 269K; the expectations are for this number to slightly rise to 272K;
15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the recent changes in natural gas production, storage, consumption and rates as of August 5th;
Friday, August 12th
05:30 – China’s Industrial Production: According to the recent monthly report, China industrial production edged up to annual rate of 6.2% — higher than market expectations; if the report shows another gain this could further feed the bearish market sentiment;
07:00 – German Second Quarter GDP 2016: Back in Q1, Germany’s economy grew by 0.7% – higher than expected. Current expectations place the growth rate at an annual rate of 0.3% for Q2. Any higher figure could suggest the German economy is doing better than expected;
13:30 – U.S. Retail Sales Report: This monthly report refers to July; in the last June update, retail sales rose by 0.6% (month-over-month); core retail, by 0.7%; in the next report, the expectations are for a gain of 0.4% and 0.2% for retail sales and core sales, respectively;
13:30 – U.S. Producer Price Index: This report presents the inflation rate from the producers’ side; it will pertain to July 2016. In the latest month’s report regarding June, this index for finished goods rose by 0.5%, m-o-m; the core PPI also increased by 0.4%; this will serve as a preview for the CPI report that will be released next week;
15:00 – UoM Consumer Sentiment (preliminary): University of Michigan will release its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the recent developments in U.S consumers’ sentiment; According to the previous report, the sentiment index fell to 89.5; for the next report, the index is expected to slightly rise to 91.5;
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