Headlines the Economic Calendar on Wednesday

Headlines the Economic Calendar on Wednesday

We will follow the German Service PMI today which is expected to stabilize at 53.7 according to preliminary numbers. A better than expected realization will point to slight recovery in German economy. This may also support EURUSD pair.

In UK, Services PMI for June will be announced and is expected to ease to 53.5 from 53.8 a month ago. Any weakening in the index would be considered negative for British economy and hurt GBP/USD.

Important data that will provide hint about growth performance in peripheral Europe is retail sales to be announced today. Retail sales growth (YoY) is expected to ease sligthly to 2.3 % compared to a month ago.

The notes from the Federal Open Market Committee (FOMC) meeting in June will be released today. This should give a more detailed explanation of the thinking behind the June rate increase. The US central bank hiked rates by 25 basis points as expected but with inflation remaining low and the FOMC member Kashkari was dissenters about rate decision. The notes may help forecasters model the upcoming decisions from the central bank regarding rates and the reduction of the balance sheet which seems to be a more agreeable subject amongst policy makers.

05 Jul 17 (Wed)

06:21 am



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