Today sees a host of economic data being released from around the globe, which will be a welcome sight for markets as they look to the data for direction in the post Brexit climate. Both sides of the market will be looking to see what the current risk environment is like with bullish data likely to result in traders further deleveraging their Brexit risk off positions, which will see the USD, JPY and GOLD soften while equities turn bullish. Worse than expected data, showing a further slowing of the global economy, will fuel uncertainty and have risk off players doubling down as we see the USD, JPY and GOLD pick up steam while equities lose ground.


  • German Unemployment Changes expected at -5k
  • CPI Flash Estimate y/y expected at 0%
  • Core CPI Flash Estimate y/y expected at 0.8%
  • ECB Monetary Policy Meeting Accounts


  • GDP m/m expected at 0.1%
  • RMPI m/m expected at 4.9%


  • Unemployment Claims expected at 267k
  • Chicago PMI expected at 50.6
  • FOMC Bullard Speaks


  • Household Spending expected at -1.3%
  • Tokyo Core CPI y/y expected at -0.5%
  • Tankan Manufacturing Index expected at 4
  • Tankan Non-Manufacturing Index expected at 19


  • Manufacturing PMI expected at 50
  • Non-Manufacturing PMI previously at 53.1
  • Caixin Manufacturing PMI expected at 49.1