mask Week Ahead I Big Data and Big Speculation will set the Tone for the Week

27/ 06/ 2017

Week Ahead I Big Data and Big Speculation will set the Tone for the Week

26th June 2017 - 30th June 2017

Monday

  • German business climate
  • U.S. durable goods orders
  • ECB President Mario Draghi Speech

German June IFO confidence unexpectedly jumped to record high of 115.1 from 114.6 in the previous month. The current conditions indicator rose to 124.1 from 123.3 and the future expectations index to 106.8 from 106.5. Expectations had been for an unchanged reading. The diffusion index showed that manufacturing confidence improved only marginally, while construction confidence fell back slightly, but that this was more than compensated for by the sharp improvement in the wholesale index to 23.6 from 20.3 and a rise in the retail sales index to 16.0 from 11.4.

Tuesday

  • ECB President Mario Draghi Speech
  • BOE Governor Carney Speech
  • FED Yellen Speech, US Consumer Confidence

Tuesday brings a number of speeches from central bank governors, and they definitely are worth a closer look.

The first speech will be ECB President Mario Draghi will be speaking at the European Central Bank forum on central banking in Sintra, Portugal. Bank of England will release its latest Financial Stability Report, and Governor Mark Carney will hold a press conference discussing the report half an hour later. Both are high importance events, especially because there have been several hawkish dissenters among the policy makers. And Fed Chair Janet Yellen will be speaking at the British Academy in Londo. She will be discussing the global economic issues, and audience questions are expected, which could lead to some volatility.

Wednesday

  • BOE Governor Carney Speech
  • BOJ Kuroda Speech
  • ECB President Draghi Speech
  • BOC Governor Poloz Speech

The heads of the ECB, BoE, Bank of Japan and Bank of Canada are to speak at the ECB central banking forum in Portugal. The U.S. is to release figures on pending home sales.

Thursday

  • EU Consumer Confidence
  • US Initial Jobless Claims, Gross Domestic Product
  • UK Consumer Confidence

We also have the GDP data from the US later in the week which will be another important data point that will be watched closely in the days to come to see if there is an improvement in the data from the US which will favor another rate hike this year.

Friday

  • UK Gross Domestic Product
  • EU Consumer Price Index
  • US Personal Spending

Germany is to report on retail sales. The UK is to publish current account data as well as revised figures on first quarter growth. The euro zone is to publish preliminary data on inflation. Canada is to produce monthly data on economic growth. The U.S. is to round up the week with a report on personal spending and revised data on consumer sentiment.