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What’s happening this week in the US, UK and the Eurozone?


UK: Q2 GDP Reading

Following another alarming manufacturing PMI last week, the services sector comes under the spotlight on Monday, teetering on the edge of contraction territory having hit 50.2 the previous month.

There’s then a barren patch in the middle before the UK gets to the real juicy stuff on Friday. In a morning full of manufacturing and industrial production figures, the goods trade balance number and the latest monthly growth estimate, it is the first official glimpse at the Q2 GDP reading that is the real draw. A drop-off from the first quarter’s 0.5% is expected.

Of course, there is every chance that none of this will come to matter if the pound gets in another no-deal Brexit panic. Boris Johnson’s approach to negotiations with the EU has immediately become a problem for sterling, something unlikely to change this week.

UK: Stocks to watch

As for the corporate calendar, HSBC reports on Monday, with InterContinental Hotels and Rolls-Royce Holdings on Tuesday, Glencore on Wednesday, Coca-Cola HBC and Aviva on Thursday, and Hikma Pharmaceuticals on Friday.

US: US-China Trade War

After last week’s Fed and nonfarm drama, the week is slightly tamer for the US.

The ISM and Markit services PMIs arrive on Monday, following by the JOLTS job openings on Tuesday, the jobless claims on Thursday and the PPI data on Friday.

Any movement on the US-China trade war, following Donald Trump’s latest Twitter rant attacking Beijing, could be the most important thing for the Dow Jones et al.

Eurozone: A quieter week in store

Steady but largely unspectacular is maybe the best description of the Eurozone’s impending economic calendar.

Well, as long as Monday’s services PMIs aren’t as worrying as last week’s manufacturing readings. Tuesday then sees the German factory orders, Wednesday the country’s industrial production data, and Friday the French counterpart.

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This article is brought to you in association with Spreadex. All opinions expressed in this article are from the author and do not necessarily represent the opinions of The Armchair Trader. You can find out more about Spreadex products and services here, or find more articles from Connor Campbell here.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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