Guide to today’s important data and events

Lot of economic dockets to be released today, however the risks associated with the releases are moderate.

Data released so far -

• New Zealand - ANZ business confidence dropped to -2.3 from 15.7 prior. Activity outlook dropped to 23.6% compared to prior 32.6%.

• Australia - New home sales dropped by -2.3% m/m in May and private sector credit rose to 6.2%

• Japan - Vehicle production dropped -16.6% in May from a year ago. Construction orders dropped -7.4%. Housing starts grew by 5.8% in May.

• Germany - Retail sales grew by 0.5% in May, down -0.4% on yearly basis. Unemployment dropped by -1000 and rate remained same at 6.4%

• France - Consumer spending grew at subdued pace of 0.1% in May.

• Switzerland - KOF leading indicator dropped to 89.7 for June from 92.7 prior.

• Italy - Unemployment rose to 12.4%

Upcoming -

• UK - GDP and current account balance to be released at 8:30 GMT.

• Italy - Consumer price inflation to be released at 9:00 GMT.

• Euro zone - Preliminary reading on consumer price inflation to be released at 9:00 GMT.

• Canada - Monthly GDP growth to be released at 12:30 GMT.

• Portugal - Consumer and business confidence to be released today.

• Germany - Preliminary Inflation data to be released for June at 12:00 GMT.

• Canada - Industrial product price and raw material price index to be released at 12:30 GMT.

• US - S&P case Schiller prices to be released at 13:00 GMT, followed by Chicago PMI at 13:45 GMT and consumer confidence at 14:00 GMT.

• Auction - Italy will Auction 5 and 10 year bonds today. US will auction 1 month bill at 15:30 GMT.