Gross Domestic Product, Industrial & Manufacturing Production and Trade Balance (GBP, GMT 06:00) – A plethora of data from the UK should confirm a continued stuttering recession. The UK preliminary GDP for Q2 is expected to confirm a contraction rate of -0.2% q/q, down from 0.8% q/q last time. The headline is expected sharply lower from the so far 8.7% y/y, to 2.8% y/y. Industrial and Manufacturing Production for June are both expected at -0.6% from 0.9% and 1.4% respectively. The trade deficit is seen at -21.20B. The BOE’s latest growth projections were revised sharply down, with the BOE once again flagging recession risks and predicting a decline in activity of -2.1% in Q3 of next year, compared to -0.8% in the May report.
Michigan Consumer Sentiment & New Home Sales (USD, GMT 14:00) – Michigan Consumer Sentiment improved to 51.5 in the final reading for July, a little better than forecast after plunging -8.4 points to an all-time low of 50.0 in June.
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
