Here are some of the important economic data that will be the focus of the market throughout the week.
German Economic Sentiment ZEW Survey (Tuesday 5.00 PM): The survey data will give an initial picture of the level of economic health in Europe especially in Germany as the largest economy. Expectations of declining readings will affect the performance of the Euro movement earlier in the week.
German Inflation Data (Wednesday 2.00pm): The final reading for the consumer price index in Germany is expected to be published unchanged as the initial reading at 0.9%. The inflation rate in Germany has shown an upward trend since the reading in May.
US Inflation Data (Wednesday 8.30pm): Being the focus of the central bank, US inflation data for July is forecast to record a decline following the impact of the increase in Covid-19 transmission on the latest wave. A declining inflation rate will affect the depreciation of the US dollar in the market.
UK Gross Domestic Product Data (Thursday 2.00pm): Preliminary readings for UK GDP growth for the second quarter of this year will drive the Pound’s movement this week. The forecast of an increase in the reading figures will boost investor confidence after the UK economic reopening move last month.
US Producer Price Index Data (Thursday 8.30pm): Also giving an indication of the inflation rate and consumer spending in the US, the issuance of producer price index data will be the focus. The reading for July is expected to decline slightly to 0.6% from 1.0% of the previous reading.
