Friday brings plenty of known market movers, so let’s take a closer look with the Economic Calendar.
French Preliminary Second Quarter GDP is up first at 5:30 AM. The first quarter data came in much stronger than expected as economy grew twice as fast as the point 3% pace posted in the last quarter of 2015.
German Retail Sales for June come at 6. Sales surged in May, reversing two months of declines.
Swiss KOF Economic Barometer for July will be available at 7. The Index rebounded in June from a slip to 101.8 points the previous month.
UK Mortgage Approvals for June follow at half past 8. The number of approvals inched slightly higher in May, but this release is expected to show a decline.
A number of high importance news releases regarding the Euro Zone economy are out at 9, including the preliminary reading of second quarter GDP. The first quarter data was a pleasant surprise, following a point 3% quarterly gain the previous month.
Preliminary July CPI comes at the same time. The annual inflation rose above zero in June for the first time in four months.
And Unemployment Rate for June is due at this time as well. There was a slight improvement in May, but unemployment still remains in double digits.
Coming up next at 12:30 PM GMT is another closely watched release, namely, the preliminary US Second Quarter GDP. Markets are expecting a faster pace of growth which, in turn, could lead to the much-awaited rate hike.
Canadian May GDP is out at the same time, and it is of high importance to Loonie Dollar traders. The April data came in line with expectations, posting growth for the first time in three months.
And the final reading of University of Michigan Consumer Confidence for July concludes the schedule at 2. The preliminary estimate puts the Index at its lowest level in more than a year, but it could be revised upwards.
I’m Sam Meredith and you’ve been watching the Economic Calendar for Friday, the 29th of July. Check back in for the next overview of news releases for Monday. Goodbye for now.
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