UK retail sales figures for June

In the US, markets will focus their attention on the minutes of the June Federal Open Market Committee (FOMC) for any change in monetary stance. Meanwhile, market participants will look at the Producer Price Index (PPI) both core and headline for June. Consumer price indices are also due this week. The release calendar features the Philadelphia Fed business survey, along with a number of housing market data. Market participants will also delve into the activity side through the release of the Industrial production figures for June. May business inventories are also due. June retail sales data, consumer confidence surveys and labour market data will close the week's data release.

In Euroland, markets will assess the future economic expectations of Germany and the Eurozone through the release of the ZEW indices. Market participants will track the area-wide Consumer Prices Index (CPI) for June which is expected to accelerate further. The Harmonised Index of Consumer Prices (HICP) for Germany, France and Italy is also on schedule.

A view on the manufacturing sector will be provided through the release of the Industrial production and construction output for the Eurozone. Besides, markets will also get the Euroland and Italian trade balance figures together with industrial orders for Italy. German producer prices and Spanish house prices for the second quarter will complete the data release schedule for the week.

In the UK, markets will get hold on a few albeit important releases this week. Primarily, Producer Price Indices (both input and output) are expected to rise further on the back of surging oil prices, as will consumer prices. Markets will get a view on the labour market through the release of the unemployment rate for June. The British Retail Consortium (BRC) June retail sales will give an insight on the spending pattern within the British economy.

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