Economic calendar: Light beginning of important week

Summary:

  • Regional Fed index from Chicago seems to be the sole noteworthy reading scheduled for Monday
  • BoJ’s Kuroda to speak at the IMF in Washington
  • What to watch beyond Monday?

This week looks quite busy but it is not the case when it comes to Monday. Will Monday be the calm before the storm? We will see in a few days. What are the most important points this week? 

  • Tuesday: US existing home sales, Hungarian central bank decision

  • Wednesday: Preliminary PMIs from European economies and the US, US new home sales

  • Thursday: ECB rate decision, Turkish central bank rate decision, US durable goods orders

  • Friday: US Q2 GDP

What to watch on Monday?

  • 1:00 pm BST - Polish M3 money stock for June: The consensus calls for a 9.9% YoY rise

  • 1:30 pm BST - Regional Fed index from Chicago for June: The Bloomberg median estimate points to a bounce to 0.1 from -0.05 in May. Nevertheless, it is worth remembering that other regional indices saw deep declines last month before a solid widespread rebound this month. Keep in mind that the index from Chicago is the last one from a group of regional indices from the US, hence it is treated more like a lagging rather than leading indicator. 

Central bankers’ speeches: 

  • 4:00 pm BST - BoJ’s Kuroda (he will take the floor at the IMF in Washington)

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