This is probably going to be an extremely quiet week, for two main reasons: we are approaching the middle of August, when the market is typically pretty dead, and there is also no central bank data due this week anywhere. Furthermore, as can be seen below, there is relatively little in the way of crucial economic data releases due, with only the USD and the EUR scheduled to hold more than a single high-impact release event. Additionally, it seems unlikely there will be any surprises this week. If there is news-driven direction in any currency this week it will most likely occur in the USD pairs on Thursday.
U.S. Dollar
On Monday FOMC Member Lockheart will be speaking, he recently surprised the market with a bullish outlook on a possible September rate hike. On Thursday we will get Unemployment Claims and Retail Sales numbers. The week ends on Friday with PPI and Preliminary UoM Consumer Sentiment data releases.
Euro
On Tuesday we will get German ZEW Economic Sentiment numbers. Then on Friday there will be a release of German Preliminary GDP data.
British Pound
There will be nothing this week for the Pound except Wednesday’s releases of the Average Earnings Index and the Claimant Count Change.
Australian Dollar
On Tuesday there will be a release of NAB Business Confidence data.
New Zealand Dollar
A quiet week for the Kiwi, with only Retail Sales data due on Friday.
Canadian Dollar
A quiet week for the Loonie, with only Manufacturing Sales data due on Friday.
