Bank of England minutes

In the US, market participants will delve into a barrage of economic data, enabling a better evaluation of the economy. The main focus in the US will be the release of data on the housing market. The NAHB Housing Market index, which seeks to capture the overall housing market outlook among home builders, is due to be released next week.

Meanwhile, MBA mortgage applications, housing starts and housing permits will provide a deeper insight on the housing market. A view on the labour market will be provided by the release of the initial jobless claims and continuing claims. In terms of survey indicators, the New York and Philadelphia Federal Reserve survey should provide the markets with a snapshot of activity in the manufacturing sector during June. On the inflation front, markets will be expecting the headline and core Producer Price Inflation (PPI) for May along with the ABC Consumer confidence survey. Industrial Production for May along with current account balance for the first quarter will conclude the week's data release schedule.

On the other side of the Atlantic, the ZEW survey will provide market participants with a view on the economic sentiment within the Eurozone. In terms of real activity, market participants will have the figures for the construction output and sales data for Italy during the second quarter. Data on the evolution of the labour market will be provided by the release of the Italian and Spanish labour cost, Italian unemployment and French wages data for the first quarter. Markets will be eagerly awaiting figures relating to the Eurozone Consumer Price Index (CPI) both core and headline for the month of May. Eurozone current account and trade balance figures are also scheduled this week.

In the UK, the markets will look closely at the minutes of the June Bank of England meeting. Meanwhile, the release of the Consumer Price Index (CPI) along with the Retail Price Index (RPI) will provide a good indication of the pricing levels in the UK. The week's economic schedule will also include the retail sales figures for May.

This article has been prepared by Bank of Valletta plc, which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the bank to acquire or sell securities, nor does it constitute any form of advice by the bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.