Key economic events for the week – Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, lists down the key economic releases from across the globe for the current week.

Key Quotes

“In China we saw May property prices over the weekend, where the bubble continues to grow despite the economy slowing. This morning we’ve also seen Japanese trade data, where exports slumped 11.3% y-o-y and imports 13.8%: with USD/JPY still around 104.60, the outlook is not looking any better ahead. There’s not much else to look to over the rest of the day except perhaps a speech from the BOJ’s Kuroda.

Tuesday has the RBA’s June minutes, Aussie house prices. Data-wise, we also have the German ZEW survey. In politics we have the German constitutional court’s ruling on the legality of the ECB’s OMT scheme (in other words, there’s more than one potential peed-bump this week in Europe). And in central banking, Turkey has an interest rate decision, Draghi testifies at the European parliament, and Yellen does the same at the Senate – obviously most focus will be on whether Yellen says ‘Never Mind the Bullards’ or not.

Wednesday has Canadian retail sales and US existing home sales, so is likely to see a relative lull.

Thursday has the crucial Brexit referendum, of course, as well as provisional June manufacturing PMIs, and US new home sales.

Friday then has a potentially anxious wait for the UK exit polls and referendum results, then we get data in the form of the German IFO survey, US durable goods orders, and final June Michigan consumer confidence.”