Economic Calendar Week Ahead August 5th 2024

Published by TPwithUS Writer at August 4, 2024

Global Economic Calendar:

Top Events and Data Points to Watch This Week

US Economic Calendar

It will be a relatively quiet week in the United States, with only the ISM Services PMI and the trade balance report of significance. Additionally, the earnings season for big companies is slowly wrapping up, featuring results from Amgen, Caterpillar, Uber, Airbnb, Walt Disney, Eli Lilly, SoftBank, and Siemens.

Global Economy in Focus

Over in China, the Caixin Services PMI, the balance of trade, and producer and consumer inflation figures will be closely monitored. Australia, India, and Mexico will announce their interest rate decisions while inflation rates will be reported for Turkey, the Philippines, Mexico, Brazil, and Russia.

European Economic Update

Germany will release data on its trade balance, factory orders, and industrial production while the Euro Area will update retail sales figures. Also, the balance of trade reports will come from Canada and Brazil, as well as PMI services for Spain, Italy, and Brazil. Finally, GDP growth rates will be announced for the Philippines, Indonesia, and Russia.

Americas

The US economic calendar will be soft, with the focus on the ISM Services PMI, expected to show the services sector returned to growth in July after a contraction in June. Other key indicators to follow include final S&P Global Services and Composite PMIs, trade balance, and consumer credit. Meanwhile, the earnings season continues with reports from Amgen, Caterpillar, Uber, Walt Disney, and Eli Lilly.

Elsewhere in America, attention will be on unemployment and trade figures for Canada; S&P Global Services PMIs for Canada and Brazil; inflation for Brazil, Mexico, and Chile; and Mexico’s central bank monetary policy decision.

Europe

In Germany, factory orders and industrial production probably rebounded from a big drop in May while final inflation figures are expected to confirm July’s acceleration. Trade data will also be released. Other key indicators include producer prices and retail sales for the Euro Area, preliminary services PMIs in Spain and Italy, industrial production for Spain, the unemployment rate in France, and final inflation figures for Italy.

In the UK, it will be interesting to follow final services and composite PMIs and the Halifax house price index Also, inflation in Turkey is set to slow for a second consecutive month. In Russia, inflation, GDP growth for Q2, and Services PMI are also due.

Asia

The spotlight will be on Chinese trade data from July after PMI figures for the period suggested that export markets were unable to offset lower consumer demand domestically. The Chinese economic slump is also expected to manifest through muted consumer and producer prices to be released shortly after the trade balance. Meanwhile, investors keenly await minutes and the Summary of Opinions from the Bank of Japan’s meeting that precluded an unexpected rate hike, triggering ripples throughout financial markets worldwide.

Also on the monetary policy front, the Reserve Bank of India is due to keep its rate unchanged but update investors on how it sees inflationary risks. Elsewhere in Asia, Indonesia and the Philippines will post their Q2 GDPs, and the latter will also publish July’s inflation rate and June’s unemployment rate.

Australia

In Australia, markets expect the RBA to refrain from hiking its benchmark interest rate following Q2’s softer inflation print. Other notable releases from the region include the NAB business confidence index for July and Q2’s labor data from New Zealand.

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Economic Calendar Week Ahead August 5th 2024

Global Economic Calendar:

Top Events and Data Points to Watch This Week

US Economic Calendar

Global Economy in Focus

European Economic Update

Americas

Europe

Asia

Australia

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Follow TPwithUS Tradingview

TPwithUS Writer

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