Germany’s industrial production, USA monthly consumer credit, UK house prices, Swiss CPI are Monday’s standout data

Aug 7 • Morning Roll Call • 500 Views • No Comments

Monday starts the week with Chinese data concerning the current account balance and foreign reserves, both figures expected to reveal marginal improvements. USA data is released early morning concerning mortgage delinquencies and mortgage foreclosures over the second quarter of 2017. At 4.71% mortgage delinquencies in the USA are running at extremely high levels, in comparison with other developed countries and given the USA’s reliance on the housing industry as an engine of growth, these figures are always closely monitored.

 From New Zealand we’ll receive the latest 3rd Q two year inflation expectations, forecast to come in at a figure similar to the 2.17% YoY growth expectations published in Q2. From Japan the latest leading index for June will be published, forecast to rise to 106.2, as will be the coincident index from Japan, forecast to rise to 117.2.

 Monday sees Germany’s industrial production figures published, YoY a fall from 5.2% to 3.7% is forecast. Switzerland’s CPI is released, expected to come in at 0.3% YoY for July and a negative figure for the month of July, at -0.3%. The U.K. will reveal its latest house price index from the Halifax Bank, predicted to come in at 2.1% YoY for July, from the 2.6% registered in June. The August Sentix investor confidence index for the Eurozone will be published, predicted to come in at 27.6 for August, from the 28.3 reading recorded in July.

 As attention turns to the USA the latest consumer credit issued for the month will be revealed, excepted to come in at $15.5b for June, from the $18.4b in May. Late evening Japan’s trade balance is published, the forecast is for an increase to Y549b, from the Y115.1b registered for May.

 Economic calendar events for August 7th all times quoted are London (GMT) time


 Currency impactedUSD MBA Mortgage Foreclosures (2Q). The foreclosure rate is expected to remain close to the 1.39% recorded in Q1 2017.                              

 Currency impacted USD Mortgage Delinquencies (2Q). The forecast is for a similar figure of Q1 4.71% to be maintained.

 03:00, currency impacted NZD Reserve Bank of New Zealand 2-Year Inflation Expectation (3Q). The expectation is for the inflation prediction to come in at circa 2.17%

 05:00, currency impacted JPY Leading Index (JUN P). The reading is expected to rise to 106.2, from 104.6 in May.

 05:00, currency impacted JPY Coincident Index (JUN P). The index is forecast to rise to 117.2 from 115.8.

 06:00, currency impacted EUR German Industrial Production s.a. (MoM) (JUN). Production is forecast to fall to 0.2%, from 1.2% in May.         

 06:00, currency impacted EUR German Industrial Production n.s.a. and w.d.a. (YoY) (JUN). Production is forecast to fall to 3.7%, from 5.0% in May.

 07:15, currency impacted CHF Consumer Price Index (YoY) (JUL). Swiss inflation is forecast to rise to 0.3%, from 0.2% in June.

 07:30, currency impacted GBP. Halifax House Price (3MoY) (JUL). The UK’s HPI is forecast to fall to 2.1%, from 2.6% in June.  

 08:30, currency impacted EUR. Euro-Zone Sentix Investor Confidence (AUG). The confidence reading is scheduled to fall to 27.6, from 28.3 in July.

 19:00, currency impacted USD. Consumer Credit (JUN). Credit is forecast to fall to $15.500, from May’s $18.410b.       

 23:50, currency impacted JPY. Trade Balance – BOP Basis (Yen) (JUN). The balance is forecast to increase to ¥549.0b, from the -¥115.1b recorded in May.


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