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Monday – we get Germany’s PPI rate (European morning).
Thuesday – no main headlines
Wednesday – we get Canada’s Retail Sales growth data and the US existing Home Sales figure.
Thursday – we get Japan’s Nikkei Manufacturing PMI, France’s, Germany’s and Euro-zone’s PMI’s, the US New Home Sales figure and Euro-zone’s Consumer Confidence.
Friday – we get New Zealand’s Trade Balance figure, Japan’s CPI rates and Germany’s GDP growth rate.
“Delegation will be sent to the US for talks in late August” and “The delegation will be led by Vice commerce minister and meet US team led by Secretary of the Treasury” – its stated in a statement of China’s ministry of commerce. Also, we could see the USD weakening somewhat temporarily.
In other news we could get the UKs Retail Sales growth rates (European morning) and the number of housing starts and the Philly Fed manufacturing index (American session).
AUD/USD broke the downward trend line and tested the 0.7265 (Asian session). We see the case for the pair to start slowly rising as the USD could weaken. We could see the pair breaking the 0.7265 resistance line and aim for the 0.7325 resistance area. On the other side, we could see the pair aiming if not breaking the 0.7200 support line.
We get the UKs inflation data for July with the rate forecasted to increase and UK we get PPI figures (European morning).
On the other side, we get the US core retail sales and retail sales for July. Also, we get the EIA weekly Crude Oil Inventories with a -2.5M drawdown expected (American session).
