UK Q2 GDP in focus amid mixed markets
Happy Friday, everyone! Hope you're all doing well as we look to get things going in the session ahead. Markets are still edgy since overnight trading amid mixed tones (equities and bonds both rallying) but we're seeing more caution in trading thus far today.
The push and pull between risk factors and asset classes will be once again the key focus today as we get the release of the preliminary UK Q2 GDP report.
0545 GMT - Switzerland July unemployment rate
Prior release can be found here. General indication of labour market conditions in the Swiss economy, which has been solid and tight over the past few years. A minor data point.
0600 GMT - Germany June trade balance data
Prior report can be found here. A glimpse at trade conditions in the German economy, this pertains to Q2 data where we expect sluggish conditions to prevail for the most part.
0645 GMT - France June industrial, manufacturing production
Prior release can be found here. General gauge of factory activity in the French economy. Not a major release as this is in part data for the second quarter, in which we already observed via the Q2 GDP report release earlier.
0830 GMT - UK Q2 preliminary GDP report
The final Q1 report can be found here. After the "rebound" in the first quarter, the UK economy is expected to stagnate in Q2 as the aftereffects of Brexit stockpiling and further uncertainty weighs on the economy. The hope here is that the UK will at least avoid negative growth here so as to not slip into a potential technical recession this year.
0830 GMT - UK June monthly GDP data
0830 GMT - UK June manufacturing, industrial, construction output
Prior release can be found here. The data here matters little as it is a mere accompaniment to the overall Q2 report above.
0830 GMT - UK June trade balance data
Prior release can be found here. A look at trade conditions in the UK economy, which hasn't been faring too well as of late as well. A minor data point.
0900 GMT - Italy July final CPI figures
The preliminary report can be found here. Given that this is the final release, it matters little unless the figure substantially deviates from initial estimates.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
