After two reasonably quiet weeks on the data front, the calendar is once again quite heavy particularly in the US with PMI numbers and private-sector and US-wide labour market data for June. FOMC meeting minutes are also due for release.
In the UK the focus will be on the service-sector PMI and BRC retail sales monitor. But perhaps more important will be BoE Governor Carney’s speech on Thursday and in particular the government’s two-day meeting on 5-6 July to reach an agreement on a post Brexit deal.
A number of ECB officials are also due to speak this week while in Australia Wednesday will be an important day with both trade and retail sales data for May due for release.
Monday 2nd July
Global: Global Purchasing Managers Index (PMI) for June
Tuesday 3rd July
Australia: Reserve Bank of Australia (RBA) policy meeting. Rates expected to remain on hold at 1.50%.
Eurozone: Retail sales (May)
Eurozone: European Central Bank board member Praet to speak.
Wednesday 4th July
United Kingdom: British Retail Consortium retail sales index (June).
Australia: Trade balance and retail sales (May)
United Kingdom: Services PMI (June).
Thursday 5th July
United Kingdom: Start of two-day government meeting at Chequers. Theresa May’s senior cabinet members will meet to try and finally agree on the key terms and conditions of the UK’s future relationship with the EU, including the issue of the Customs Union and Irish border.
Switzerland: CPI-inflation (June)
United Kingdom: Bank of England Governor Carney to speak
Eurozone: German Bundesbank president Weidmann to speak.
Eurozone: European Central Bank board member Mersch to speak.
United States: ADP non-farm employment data (June)
United States: ISM non-manufacturing (June)
United States: FOMC minutes of June policy meeting at which Fed hiked rates 25bp
Friday 6th July
United Kingdom: Halifax House Price index (June).
United States: Labour market data (June)
