Daily Economic Calendar – June 29, 2017

Thursday is a busy day with plenty of market movers, so let’s take a closer look.
Starting things off at 6 AM is the German GfK Consumer Confidence for July. The Index inched even higher in June as consumers remain optimistic about their own income and economic growth.

UK Mortgage Approvals for May follow at 8:30. The number of approvals has been declining for the past 3 months and now stands at its lowest level since late 2016.
The closely watched preliminary reading of German June CPI is out at noon. The annual inflation eased by half a percentage point in May as energy and services prices grew at a slower pace.
Two high importance releases regarding the US economy follow at 12:30 PM GMT, including the final reading of first quarter GDP. The preliminary estimate puts the annualised quarterly growth at 1.2%, which is actually an improvement from the 1.1% increase a year ago.
The weekly update on Jobless Claims is out at the same time. Initial claims grew by 3 thousand during the week ending June 17 while the continuing claims jumped by 8 thousand during the week ending June 10.
The next item on the schedule comes at 11:45 in the evening, and it’s the New Zealand Building Permits for May. The number of permits dropped by 7.6% in April, but the report noted the Easter holiday was responsible for at least some of the drop.
UK GfK Consumer Confidence for June will be available at 11:01. May data surprised on the upside as the Index rose to a 4-month high, but that was before the surprise outcome of the general election.
Two pieces of May data from Japan follow at 11:30, including the closely watched CPI. The annual inflation remains low, and the April data came in weaker than expected, but at least it has stood in the positive territory for the past 4 months.
Jobless rate has stood at the same low level for the past 3 months, but this report also includes the household spending data, and it has been declining for the past 14 months.
Japanese Preliminary Industrial Production for May is out at 11:50. Output rebounded in April, reversing a 1.9% drop the previous month.
Commodity currency traders may want to keep an eye on Chinese June PMI, which comes at 1 AM. The manufacturing Index stood unchanged in May, which was actually better than expected as markets had anticipated a decline, whereas the Non-Manufacturing PMI rebounded from the 7-month low reached in April.
And Japanese Housing Starts for May will be release at 5 o’clock in the morning. April data surprised very much on the upside, showing a strong gain instead of the anticipated decline.