Hello, traders, let’s see which news releases stand out on Monday, the 17th of July.
The schedule actually starts at half past 10 on Sunday evening with New Zealand Performance of Services Index for June. The Index rebounded in May, and it managed to recover from a 6 point drop the previous month.
UK Rightmove House Price Index for July follows at 11:01, and the Index slipped in June, posting its first decline in 6 months.
A number of news releases from China follow at 2 AM, and probably the most important is the second quarter GDP. The first quarter data actually surprised on the upside, improving on a 6.8% gain during the last quarter of 2016.
Industrial Production for June comes at the same time, and May data showed stable and steady growth at the same pace than a month ago.
And June Retail Sales are out at this time as well. Much like the industrial output, retail grew at a steady and strong pace in May.
Coming up next at half past noon GMT is the Empire State Manufacturing Index for July, and, to put it mildly, June data surprised on the upside as the Index actually shot up by 21 points and hit a 2 year high.
New Zealand second quarter CPI follows at 10:45 in the evening, and it is a high importance release for the Kiwi Dollar traders, especially because New Zealand only releases its inflation data on a quarterly basis. The annual inflation reached a 5-year high in the first quarter, driven by higher fuel and home prices as well as higher tobacco taxes.
And Aussie Dollar traders may want to tune in at half past 1, when RBA will release the Minutes of its July monetary policy meeting. As the interest rate has stood unchanged for almost a year, traders are increasingly turning towards the minutes in an attempt to foretell the upcoming hike.
And that concludes the Economic Calendar for Monday. I’m Celeste Skinner and we’ll be back with the next overview of news releases for Tuesday. See you then.
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