UK data in focus once again, retail sales this time
Good day, everyone! Hope you're all doing well as we get things going later in European trading. It's been a relatively quiet start to proceedings but there is some dollar and yen weakness to be observed as we start the day.
0600 GMT - Germany Jule wholesale price index
Prior release can be found here. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern. A minor data point, besides the fact that domestic consumption remains decent in the German economy. The real problem lies in trade and export demand/factory activity.
0830 GMT - UK July retail sales data
Prior release can be found here. The main highlight of the session. Visa data earlier in the week highlighted weakness in spending patterns in July so that adds some skew that the reading here may miss a little to the downside. May and June readings were solid and economists expect a strong July reading as well but not as robust as the last two months at least. So, let's see who gets this right. After the dull jobs and inflation report earlier in the week, this release here may be of more interest.
0900 GMT - Eurozone June trade balance data
Prior report can be found here. Not a major data point by any means as we already had the individual countries' releases earlier in the month. Let's see what the data says about trade with the US though.
That's all for the session. I wish you all the best of days ahead and as always, good luck with your trading!
