Economic Events of the Coming Week - 7/31/2016

Monday: July’s Manufacturing Purchasing Mangers’ Indices will be released globally, with the Chinese prints generating elevated interest. The ISM Manufacturing Index should also draw some attention in the U.S., where analysts are still somewhat optimistic, expecting a level of 53 points.

Tuesday: July Unemployment data will be released in Spain. In the U.S., June Personal Income and Personal Spending data will see light, both of which with analysts expecting some improvement, though many of those were made before the GDP data was out. Pfizer (PFE) will announce the second quarter’s earnings.

Wednesday: Composite and Services Purchasing Managers’ Indices will see light globally. In the U.S., July’s MBA Mortgage Applications will see light, as well as the ADP’s National Employment Report. Tesla (TSLA) will announce the second quarter’s earnings.

Thursday: The Bank of England will announce interest rates, with, again, a rate cut seeing elevated expectations. In the U.S., the weekly Initial Jobless Claims will see light, followed by June Factory Orders data and the final estimate of June’s Durable Goods’ Orders. Zynga (ZNGA) announcing the second quarter’s earnings will be interesting to follow.

Friday: June Factor Orders data will see light in the U.S. June Trade Balance data will be released in the U.S., with the deficit expected to his USD 43.0 bln. July’s Nonfarm print will be released in the U.S., with the analyst consensus pointing at an addition of 175K jobs, a moderate figure compared to June’s 287K. July’s Unemployment print will be released in the U.S., with analysts expecting a down-tick to 4.8%.