Another busy day of announcements with Europe & the US once again comes into focus. Meanwhile, the RBA is meeting today to set its Cash Rate.

Out of Europe later tonight, there are a few pieces of information set for release. They are: German Factory Orders, Retail PMI and Revised GDP. Factory Orders is important as it reflects the health of the German manufacturing sector. The PMI is important as it gives an indication of the strength of the retail sector within Europe while the GDP is crucial in determining growth within Europe. Meanwhile, the EU’s Economic and Financial Affairs Council (ECOFIN) is meeting today. Topics that will undoubtedly be discussed include: The Italian Referendum and the Italian banking sector, the Election in Austria, the affects of Brexit and the bailout plans for Greece.

Over to the US and there are a number of announcements in the early hours of tomorrow morning. These announcements include: Revised Non-Farm Productivity, Trade Balance, Revised Unit Labour Costs, Factory Orders and IBD/TIPP Economic Optimism. Non-Farm Productivity & Labour Costs are important as they reflect strength in the US labour market. This is particularly important as the US Fed Reserve looks to raise interest rates later this month. The Trade Balance figures is crucial in determining the state of the US trade surplus/deficit. Like Germany, the Factory Orders data is vital as it helps show the strength of the manufacturing sector.

Meanwhile, in Australia, the central bank (RBA) is set to announce it’s Cash Rate for the economy. Most economists expect the RBA to keep rates on hold at 1.5%. Australia is also releasing Current Account figures.

Elsewhere, Japan is releasing Average Cash Earnings data, the UK is releasing BRC (British Retail Consortium) Retail Sales Monitor figures and FPC (Financial Policy Committee) Meeting Minutes and Switzerland is releasing CPI data. Finally, Canada is releasing Trade Balance and Ivey PMI figures.