Preview Of Key Events In The Coming Week

After last week’s central bank and GDP fireworks, we have another busy week on deck culminating with Friday’s jobs report.
This morning in Europe the early focus is on the final revisions to those July manufacturing PMI’s, along with a first look at the data for the periphery. Shortly we will provide a full breakdown of global PMI by country. Today we’ll also get the manufacturing PMI in the US which is then closely followed by the ISM manufacturing for July, along with construction spending data.
Early on Tuesday morning there’s some central bank focus in the Asia session with the RBA decision (a 25bps cut is expected). It’s possible that we also get the Japan Cabinet decision on the stimulus package announced by PM Abe last week. In Europe the only data is the June PPI report for the Euro area. In the US there’s important data in the form of the personal spending and income reports (both expected to increase 0.3% in June), while the PCE core and deflator readings for June will also be released. July vehicle sales data follows this in the evening.
In Asia on Wednesday we’ll get the Caixin services and composite data for July in China. The European session will then see the remainder of those July PMI’s (services and composites) along with Euro area retail sales data. In the US the ADP employment change print will be important to watch in light of Friday’s employment report. The ISM services reading will also be released, along with the rest of the PMI’s.
With a lack of data on Thursday morning in either Asia or Europe, it’s all eyes on the BoE at midday where a 25bps cut is expected. The inflation report will also be released. In the US session we’ll get initial jobless claims, factory orders data and the last revisions to the June durable and capital goods orders data.

This post was published at Zero Hedge on Aug 1, 2016.