Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
The euro in focus
EUR/USD could be the ‘one to watch’, as Eurozone economic sentiment data for August is expected to show a slight drop to 34.2 from 35.6 in the prior month.
The economic sentiment data will be followed by a speech by the European Central Bank’s Constancio, who may offer further clues on the central bank’s thinking on monetary policy, following the release of somewhat dovish minutes from the ECB’s July meeting released last week.
The ECB’s July policy meeting minutes revealed officials warned that the recent surge in the euro could hamper the central bank’s efforts to get inflation closer to its target of below, but close to, 2%.
Retail Sales
Canadian retail sales due Tuesday could offer further insight into the impact of the Bank of Canada’s decision to raise rates for the first time in seven years in July.
Economists’ forecasts a drop in retail sales to 0.3% in June compared to the month prior, but expect retail sales excluding automobiles, so called core retail sales, to rebound to 0.3% in June from a -0.1% slump in May.
USD/CAD has struggled to stem losses since the Bank of Canada raise rates, falling to C$1.2573, down 0.11%, on Monday.
Is the ‘force’ with Salesforce?
Salesforce.com Inc (NYSE:CRM) is slated to report second-quarter earnings after US markets close on Tuesday amid growing investor expectations the company will top earnings estimates on both the bottom and top line.
Salesforce generated $1.23 billion from operations in the first quarter, up 17% year-over-year, following an uptick in user adoption of its cloud computing offering. Tough competition from Microsoft, however, is expected to remain a concern for Salesforce.
Wall Street estimates Salesforce generated revenues of $2.51 billion, representing 23% year-over-year growth for the quarter.
Salesforce’s forward guidance for the third-quarter is expected to come under scrutiny, with revenue and non-GAAP EPS of $2.61 billion and $0.36 expected, respectively.