Thursday is a busy day with plenty of economic news releases, so let’s take a closer look.
The high importance German Labour Report for June is up first at 7:55 AM. The uneployment rate inched lower in May, having stood at 6.3% the previous month.
The preliminary reading of the closely watched German CPI for July follows at noon. The annual inflation in the largest Euro zone economy returned to growth in June, although, of course, it remains much lower than the ECB target rate.
Yet another high importance release, namely, the weekly update on US Jobless Claims, is out half an hour later. The last week’s report surprised on the upside as initial claims dropped by a thousand during the week ending July 16 whereas the continuing claims dropped by 25 thousand during the week ending July 9.
The schedule is light until 10:45 in the evening, when New Zealand Building Permits for June are released. The number of permits eased in May, but they did grow by no less than 6.8% a month ago.
UK Consumer Confidence for July comes at 11:05. The Index plunged by 8 points in June, and this was the largest monthly drop in more than 20 years.
Two news releases regarding the Japanese economy in June will be available at 11:30, including the all-important Consumer Price Index. The annual CPI has been in the red for the past 3 months, despite a massive stimulus from the Bank of Japan.
Jobless Rate, on the other hand, is less of a concern for policy makers as it has stood at the same low level for 3 months straight.
Japanese Preliminary Industrial Production for June follows at 11:50. Output fell much more than anticipated in May, suggesting the strong Yen may be keeping the overseas demand down.
New Zealand Business Confidence for July is out at 1 AM. The Index soared to a 6-month high in June, reflecting increasing optimism among construction and services companies.
Australian second-quarter Producer Price Index comes at 1:30. Prices slipped in the first quarter, and, following a well-established pattern, lower fuel prices were the main culprit.
Australian Private Sector Lending for June is due at the same time. Credit continued to expand in May as rising mortgage and business lending reversed some easing in personal loans.
And Japanese Housing Starts conclude the schedule at 5 AM. Starts have been rising for the past 5 months, and every single time the gain was stronger than anticipated.
I’m Sam Meredith and you’ve been watching the Economic Calendar for Thursday, the 28th of July. There’s a fair amount of market movers scheduled for Friday, so do check back.
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