1. Fed Bullard Speech - United States
In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.
2. S&P Global Services PMI Final (JUL)-Australia
The S&P Global Services PMI is based on data compiled from monthly replies to questionnaires sent to a representative panel of purchasing executives in over 400 private sector services firms in Australia. The panel is stratified by GDP and company workforce size. The services sector is divided into the following five broad categories: Transport & Storage, Consumer Services, Information & Communication, Finance & Insurance and Real Estate & Business Services. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
3. Caixin Composite PMI (JUL) - China
In China, the Caixin China Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 400 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.
4. Balance of Trade (JUN) - Germany
Germany runs regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. In 2021, the largest trade surpluses were recorded with the US, France, the UK, Austria, Switzerland, Italy, Sweden, Poland and Spain; while the biggest trade deficits were recorded with China, Ireland, Norway, Vietnam, Russia, Bangladesh, the Netherlands, Japan, Malaysia and South Africa.
5.S&P Global/CIPS UK Services PMI Final (JUL) - United Kingdom
The S&P Global/CIPS UK Services PMI (Purchasing Managers' Index) is based on data collected from companies in the transport and communication sector, financial intermediation, business services, personal services, computing and IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.