UK Q2 preliminary GDP the key point in focus

Happy Friday, everyone! Hope you're all doing well as we get into the final trading day of the week. It's been mostly a quiet one on the calendar this week but today we'll at least see some (or at least one) meaningful data point to be released.

0645 GMT - France June industrial, manufacturing production data

Prior release can be found here. A minor data point on factory activity but one that feeds into overall Q2 sentiment of the French and Eurozone economies.

0645 GMT - France Q2 preliminary non-farm payrolls

Quarterly French employment data, nothing too substantial. Low-tier stuff.

0800 GMT - Italy June trade balance data

Prior release can be found here. Similarly, a minor data point. Not one that will impact the euro by any means at this point in time.

0830 GMT - UK June manufacturing, industrial, construction output data

Prior report can be found here. Factory output data, minor data points but cumulatively they could have a bit of an impact on the day. All eyes may be on the GDP data but this one will also add/subtract from sentiment there.

0830 GMT - UK Q2 preliminary GDP release

Q1's release can be found here. The main event on the session, but could be one that may just pass us by. Quarterly GDP is expected at around +0.4% but the devil will be in the details. In spite of that, the market reaction is expected to be solely focused on the headline reading. From individual data points, we know that Q2 will be better than Q1 - the question is by how much? Brexit and Q3 growth (whether or not there is continued improvement in the economy) will be more important themes thereafter.

1300 GMT - UK July NIESR GDP estimate

Prior release can be found here. The data here may be delayed as it has been in prior releases but it should not contain any major impact on the market following the earlier releases on the day. However, it could add/subtract from sentiment depending on how the data before that fares.

That's all for the session. I wish you all the best of days ahead and as always, good luck with your trading!