The week is bound to start quietly, but will be quite busy by Wednesday when a number of economic data from Germany, the Eurozone and the United States will be released. There will also be important announcements from China and the United Kingdom later in the week. Here are some of the most important events for the week of July 29-August 2:
Event: Consumer Price Index (MoM/YoY, July) – Germany
Date: July 30, 2013
Time: 12:00am (GMT)
What It Is About and Why It’s Important
Germany remains the biggest economy in the Eurozone. It’s no surprise, therefore, that there would be a lot of volatility when it announces its CPI data on Tuesday. Analysts expect the YoY figure to stay at 1.8%, while the YoY Harmonised CPI is seen to increase slightly from 1.8% to 1.9%.
Event: Unemployment Rate/Change (July) – Germany
Date: July 31, 2013
Time: 7:55am (GMT)
What It Is About and Why It’s Important
While the unemployment rate for July is expected to remain at 6.8%, the unemployment change is seen to drop by -4K during the same period.
Event: CPI/CPI Core (YoY, July) – European Union
Date: July 31, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
Both the CPI and CPI Core of the Eurozone are expected to drop several notches in July, from 1.7% to 1.6% for the CPI, and from 1.6% to 1.2% for the CPI Core.
Event: Fed Interest Rate Decision – United States
Date: July 31, 2013
Time: 6:00pm (GMT)
What It Is About and Why It’s Important
Shall we see a more positive outlook on the US economy? Traders might be able to find clues when the US Federal Reserve announces its interest rate decision on Wednesday.
Event: NBS Manufacturing PMI/HSBC Manufacturing PMI (July) – China
Date: August 1, 2013
Time: 1:00am/1:45am (GMT)
What It Is About and Why It’s Important
Traders of the aussie will definitely keep tabs on these reports from China, especially since the HSBC Manufacturing PMI has shown a steady contraction of the Chinese economy since May 23, when it dropped to 49.60.
Event: BoE Interest Rate Decision – United Kingdom
Date: August 1, 2013
Time: 11:00am (GMT)
What It Is About and Why It’s Important
Following the previous day’s interest rate decision from the US, we shall hear about the UK’s decision on Thursday. Analysts see it staying at 0.5%, but it is worth looking into the BoE’s outlook of the economy.
Event: ECB Interest Rate Decision – European Union
Date: August 1, 2013
Time: 11:45am (GMT)
What It Is About and Why It’s Important
Less than an hour after the UK’s interest rate decision comes the decision from the EU. As with the UK, the EU’s interest rate is seen to remain at 0.5%. Expect a lot of volatility around the time of the UK and EU’s interest rate announcements.
Event: Nonfarm Payrolls (July) – United States
Date: August 2, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
The NFP data has remained flat over the past two months at 195K. Analysts, however, expect the figures to drop to 184K in July.
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