China Trade Balance
China is expected to release its trade balance figure on Monday at 2:00 GMT. Estimations for the surplus to rise to $49 billion from last month $48.1 billion.
Chinese exports data will be released around the same time and expected to drop by 3% compared to a year earlier. Additionally, a decrease of 7% of Chinese imports is expected to be published.
On Tuesday, Chinese CPI for July will be published at 2:30 GMT. YoY is expected to grow 2.2% from 1.9% last year while monthly data is expected to remain at -0.1%.
UK Trade Balance & Manufacturing Production
On Tuesday at 8:30, GMT June, UK Trade balance deficit is expected to grow by 10.10 billion compared to 9.88 in the previous month.
The forecast for June manufacturing production is -0.2% compared to -0.5% for the previous month while YoY estimations for an increase of 1.3%.
Reserve Bank of New Zealand Rate Decision
On Thursday, the Reserve Bank of New Zealand governor Graeme Wheeler is expected to announce a rate cut of 25 bps to 2% cash rate, an all-time low. Some analysts predict 50 bps rate cut by RBNZ.
German & Eurozone GDP
On Friday at 6:00 GMT, Germany will publish its second-quarter GDP. Forecast of 0.3% expansions in the second quarter by Europe’s largest economy reflects a moderate data compare to 0.7% previous quarter.
At the same day, the Eurozone economy is expected to grow by 0.3% for April-June compare to 0.6% for the previous quarter while YoY growth is expected to increase by 1.6% compared to 1.7% a year earlier.
US Retail Sales & PPI
On Friday at 12:30 GMT, MoM retail sales are forecasted to rise by 0.3% in July from 0.6% in June. Producer Prices Index(PPI) is expected to rise by 0.1%.
US data will be released post the Non-Farm payrolls data that was released last Friday. The Non-Farm Payrolls increased by 255,000 jobs last month, after an upwardly revised 292,000 surge in June. Traders and economists were looking for an 170,000 increase in July. The unemployment rate remains steady at 4.9 percent. Average hourly earnings rose 8 cents or 0.3% versus a 0.2% estimation.