US, Europe the main focus again
Big day for announcements today, led by the US and Europe, with Japan also featuring.
Later today and tomorrow morning, the US is releasing some crucial data. This includes: Advance GDP, Advance GDP Price Index, Employment Cost Index, Revised UoM (University of Michigan) Consumer Sentiment and finally, Revised UoM Inflation Expectations. The GDP figure is the most vital as it shows us the growth in the world’s largest economy. The Employment Cost Index indicates the change in the cost of labour paid by businesses and government.
Europe has a swathe of information set for release later today. Included in these releases are: French Prelim GDP, German Prelim CPI, French Consumer Spending, French Prelim CPI, Spanish Flash CPI and Spanish Flash GDP. As for the US, the GDP data is crucial to determine economic growth in the respective economies, while CPI figures reflect consumer spending habits and their confidence to spend their money.
Japan is releasing Household Spending, Tokyo Core Core CPI, National Core CPI, Unemployment Rate and BoJ (Bank of Japan) Core CPI. All of these figures are quite important, especially considering Japan is the world’s third largest economy.
Elsewhere, Australia is releasing HIA (Housing Institute Australia) New Home Sales and PPI (Producer Price Index) figures.