Expect an action-packed week on both earnings and data front. Earnings coming from FANG stocks, like Microsoft, Google, Alphabet, and the economic events not to be missed include, the US Fed policy meeting, which while we expect no changes, should give us some hints about any changes to the asset buying programme there. In addition, we have GDP readings for the 2nd quarter from both the US and Germany and durable goods in the US.
Earnings Calendar:
Monday: Ryanair, Tesla
Tuesday: Apple, Microsoft, AMD, GOOGL
Wednesday: BAT, ITV, BARC, GSK, Deutsche, FB, Boeing
Thursday: Diageo, Anglo American. AstraZeneca, Lloyds, AMZN
Friday: CAT. Procter & Gamble. Chevron, ExxonMobil
Economic Events to Watch:
Monday
1.30pm – US durable goods orders (June): expected to climb 2.1% month over month Watch: USD pairs
3pm – US consumer confidence (July): expected to drop to 125.3. Watch: USD pairs
Wednesday
7pm – FOMC rate decision: Expect no change in rates or policy but watch for talks on asset purchase programme Watch: US indices, USD crosses
Thursday
8.55am – German unemployment rate (July): Expect no change. Watch: EUR Pairs
1pm – German CPI (July, preliminary): forecast to climb 3.1% YoY. Watch: EUR Pairs
1.30pm – US GDP (Q2), Forecast at 8% from 6.4% prior Watch: US Markets
Friday
10am – eurozone inflation and GDP: Expected to climb 2.6% YoY, GDP Forecast to expand 1.5% from the last quarter and 12.6% from the last year. Watch: EUR Pairs