Asia:
00:30am - JAP Tokyo CPI YoY (0.9%)
00:30am - JAP Tokyo CPI Ex fresh food YoY (0.8%)
00:30am - JAP Tokyo CPI Ex fresh food, Energy YoY (0.5%)
02:30am - AUS PPI QoQ
02:30am - AUS PPI YoY
Europe:
06:30am - FRA GDP QoQ
06:30am - FRA GDP YoY
07:00am - GER Import price index MoM
07:00am - GER Import price index YoY
07:45am - FRA Consumer spending MoM
07:45am - FRA Consumer spending YoY
08:00am - SPA Retail sales YoY
09:00am - ITL PPI MoM
09:00am - ITL PPI YoY
US:
13:30pm - U.S.GDP Annualised QoQ
13:30pm - U.S. Personal consumption
13:30pm - U.S. GDP Price index
13:30pm - U.S. Core PCE QoQ
15:00pm - U.S. U. of Mich sentiment
Market Focus this Morning...
- The European Union sent U.K. Prime Minister Theresa May back to the drawing board on Brexit, rejecting her proposal for a new trade pact in a blow to hopes of striking a deal by October.
- “The EU cannot -- and the EU will not -- delegate the application of its customs policy and rules, VAT and excise duty collections to a non-member who would not be subject to the EU’s governance structures,” Barnier told reporters as he stood next to U.K. Brexit Secretary Dominic Raab.
- The pound weakened on these comments
- Mario Draghi said on Thursday that uncertainty over the eurozone’s inflation outlook is “receding” following years of tepid price growth even while global protectionism poses a “prominent” risk.
- The European Central Bank president’s remarks come after policymakers on Thursday held interest rates at historic lows and confirmed plans to end the bank’s vast bond-buying programme in December.
- Focus later today will undoubtedly be on the Advance Q2 U.S. GDP data due out at 13:30 London time. There are a wide range of forecasts for this number from 3% to a high of 5% (Barclays). The mean is 4.2%, the median is 4% as is the mode.
- President Trump has already tweeted that he "Believes the GDP figures will be terrific"
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