Investing.com – The week beginning July 5 follows one during which the euro rallied strongly against the U.S. dollar after worse-than-expected U.S. data on pending home sales and employment.
The euro's rebound came after industry data showed that U.S. pending home sales plunged 30% in May after a tax credit for home buyers expired and U.S. private sector unemployment rose in June, casting doubt over the strength of the U.S. economic recovery.
Next week will see the European Central Bank announce its benchmark interest rate. The announcement will be followed by a closely watched press conference. The euro zone is also due to publish key reports on its services industry, investor confidence, retail sales and gross domestic product, a leading indicator of economic growth.
Germany and France will both publish data on their respective trade balances as well as industrial production. Germany will also produce a report on consumer inflation and Italy will publish data on industrial output.
Meanwhile, in the U.S. markets will be closed on Monday for a Bank Holiday. After the holiday, important U.S. data will be released on unemployment claims and services sector growth. Data on consumer credit, wholesale inventories, crude oil inventories and natural gas storage is also due for publication.
Elsewhere in the world, Britain is to announce its benchmark interest rate, and publish key data on the service and manufacturing sectors. Switzerland will publish a report on retail sales while Japan will publish data on manufacturing production.
Meanwhile, Canada will produce key data on employment and its housing sector. Australia will announce its benchmark interest rate; publish key employment data and a report on its trade balance while New Zealand is to publish key data on consumer confidence.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, July 5
In the U.S. markets will be closed for the Independence Day holiday. Britain will begin the week by publishing monthly data on the services sector, a leading indicator of economic growth. Switzerland will publish data on retail sales, a leading indicator of consumer confidence. Australia will publish key
employment data and New Zealand will produce a report on consumer confidence.
Tuesday, July 6
The U.S. will produce key data on the service sector, a leading indicator of economic growth. Meanwhile, Australia will announce its benchmark interest rate and publish its trade balance, the difference between the value of imported and exported goods. Later in the day, Canada will publish data on building permits, a leading indicator of growth in the housing sector.
Wednesday, July 7
Canada will publish key data on corporate purchasing activity, one of the country's leading indicators of future economic growth. Meanwhile, the euro zone will produce key data on quarterly gross domestic product, a leading indicator of overall economic growth. Germany is to produce data on factory orders, while France will produce a report on its trade balance.
Thursday, July 8
The European Central Bank is to announce its benchmark interest rate. The announcement is to be made during a closely watched ECB press conference, which traders will scrutinize for clues to future shifts in monetary policy. Britain is also to announce its benchmark interest rate and produce a report on manufacturing production.
Later in the day, the U.S. will publish key data on initial jobless claims, a leading indicator of economic health. Also Thursday, Australia will publish unemployment data.
Friday, July 9
Canada is to publish key data on unemployment, a leading indicator of economic health as well as a report on housing starts. Britain, meanwhile, is to publish key monthly data on inflation.
The euro's rebound came after industry data showed that U.S. pending home sales plunged 30% in May after a tax credit for home buyers expired and U.S. private sector unemployment rose in June, casting doubt over the strength of the U.S. economic recovery.
Next week will see the European Central Bank announce its benchmark interest rate. The announcement will be followed by a closely watched press conference. The euro zone is also due to publish key reports on its services industry, investor confidence, retail sales and gross domestic product, a leading indicator of economic growth.
Germany and France will both publish data on their respective trade balances as well as industrial production. Germany will also produce a report on consumer inflation and Italy will publish data on industrial output.
Meanwhile, in the U.S. markets will be closed on Monday for a Bank Holiday. After the holiday, important U.S. data will be released on unemployment claims and services sector growth. Data on consumer credit, wholesale inventories, crude oil inventories and natural gas storage is also due for publication.
Elsewhere in the world, Britain is to announce its benchmark interest rate, and publish key data on the service and manufacturing sectors. Switzerland will publish a report on retail sales while Japan will publish data on manufacturing production.
Meanwhile, Canada will produce key data on employment and its housing sector. Australia will announce its benchmark interest rate; publish key employment data and a report on its trade balance while New Zealand is to publish key data on consumer confidence.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, July 5
In the U.S. markets will be closed for the Independence Day holiday. Britain will begin the week by publishing monthly data on the services sector, a leading indicator of economic growth. Switzerland will publish data on retail sales, a leading indicator of consumer confidence. Australia will publish key
employment data and New Zealand will produce a report on consumer confidence.
Tuesday, July 6
The U.S. will produce key data on the service sector, a leading indicator of economic growth. Meanwhile, Australia will announce its benchmark interest rate and publish its trade balance, the difference between the value of imported and exported goods. Later in the day, Canada will publish data on building permits, a leading indicator of growth in the housing sector.
Wednesday, July 7
Canada will publish key data on corporate purchasing activity, one of the country's leading indicators of future economic growth. Meanwhile, the euro zone will produce key data on quarterly gross domestic product, a leading indicator of overall economic growth. Germany is to produce data on factory orders, while France will produce a report on its trade balance.
Thursday, July 8
The European Central Bank is to announce its benchmark interest rate. The announcement is to be made during a closely watched ECB press conference, which traders will scrutinize for clues to future shifts in monetary policy. Britain is also to announce its benchmark interest rate and produce a report on manufacturing production.
Later in the day, the U.S. will publish key data on initial jobless claims, a leading indicator of economic health. Also Thursday, Australia will publish unemployment data.
Friday, July 9
Canada is to publish key data on unemployment, a leading indicator of economic health as well as a report on housing starts. Britain, meanwhile, is to publish key monthly data on inflation.