At 2.00 am ET, the Office for National Statistics releases UK retail sales data for June. Sales are forecast to grow 1.2 percent month-on-month in June, in contrast to the 2.7 percent decrease in May.
At 2.45 am ET, France’s statistical office INSEE is scheduled to release consumer sentiment survey results. The confidence indicator is seen unchanged at 88 in July.
At 4.00 am ET, Germany’s ifo business confidence survey data is due. The business confidence index is forecast to rise to 89.0 in July from 88.4 in the previous month.
In the meantime, the European Central Bank publishes monetary aggregates for June. M3 is forecast to grow 3.7 percent on a yearly basis, slower than the 3.9 percent rise in May.
At 6.30 am ET, Russia’s central bank announces its monetary policy decision. Economists expect the bank to cut its rate sharply to 18.00 percent from 20.0 percent.
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Story Highlight
– UK retail sales data expected to grow 1.2% in June.
– France’s consumer sentiment forecast unchanged at 88 in July.
– Germany’s business confidence index projected to rise to 89.0.
– European Central Bank to report M3 monetary growth at 3.7%.
– Russia’s central bank likely to cut interest rate to 18%.
Full Story
Business confidence in Germany and retail sales data from the UK will be prominent on Friday as part of a significant day for economic indicators across Europe.
The Office for National Statistics is set to unveil the UK retail sales figures for June at 2:00 am ET. Analysts anticipate a rebound in sales, expecting an increase of 1.2% month-on-month, contrasting with a 2.7% decline observed in May.
At 2:45 am ET, France’s INSEE will release its consumer sentiment survey results, with predictions suggesting that the confidence measure will remain steady at 88 for July.
Following this, at 4:00 am ET, Germany’s ifo Institute will publish its business confidence index, with forecasts indicating a rise to 89.0 for July, up from 88.4 the previous month.
Additionally, the European Central Bank is expected to disclose monetary aggregates for June, with M3 estimated to grow annually by 3.7%, a slight slowdown compared to the 3.9% increase recorded in May.
Furthermore, at 6:30 am ET, the Central Bank of Russia will announce its monetary policy decision, with economists predicting a significant reduction in the rate from 20.0% to 18.00%.
