There’s not much on the Economic Calendar for Monday, but there are still some important factors that could affect trading.
The schedule actually begins on Sunday evening at 10.30 PM GMT when the New Zealand Performance Service Index for July will be released. June figures edged down to 58.6, from 58.8 the previous month. The index is forecast to come in at 57.8 in July.
15 minutes later New Zealand Retail Sales figures for the second quarter of this year will be out. First Quarter data surprised on the upside, and was the sharpest increase in retail trade since the second quarter of 2016. This strength was driven mainly by higher sales of motor-vehicle parts, food and beverage services, and electrical and electronic goods.
Japanese Yen traders will be closely watching the markets at ten minutes before midnight on Sunday, as we have second quarter preliminary GDP figures out for the country. First quarter figures delivered a disappointing point 3% growth, as the index was revised downwards from a preliminary point 5% growth estimate. Capital expenditure was not able to offset a weaker private consumption.
And the only thing on the agenda for Monday is June’s Euro Area Industrial Production data which will be released at 9 AM GMT. May’s figures delivered a better than anticipated 4% year on year gain, as output rose the most for durable consumer goods, followed by capital goods, intermediate goods, non-durable consumer goods and energy.