Guide to today’s important data and events

Lots of economic dockets scheduled for today, with moderate risks associated. Focus is on ECB monetary policy decision.

Data released so far -

• Australia - Consumer inflation expectation rose by 3.4% in July.

Upcoming -

• Japan - BOJ will release monthly economic survey at 5:00 GMT.

• Switzerland - Retail sales for May to be announced at 7:15 GMT.

• Italy - Trade balance to be released at 8:00 GMT.

• Euro zone - Consumer price index for June and trade balance for May both to be released at 9:00 GMT. European Central Bank (ECB) will announce monetary policy at 11:45 GMT, followed by Press conference at 12:30 GMT.

• US - Lots of economic released and events scheduled from US today. Philadelphia FED manufacturing survey at 14:00 GMT along with NAHB housing market index. FED chair Janet Yellen will continue second day of testifying before congress. EIA will release inventory statistics on Natural gas.