German GDP, UK CPI and US retail sales amongst market movers today – Danske Bank

The UK CPI inflation figure for July released today is likely to attract significant attention, according to analysts at Danske Bank.

Key Quotes

“The development of inflation will be scrutinised because it will be a key factor in the BoE's decision of whether or not to hike rates before 2018.”

“In the US, retail sales figures for July are out today. We do not expect retail sales to deviate significantly from their only moderately growing trend. Overall, we expect consumption growth to continue at a decent pace, which should be mirrored by positive retail sales growth. Further, the Empire manufacturing PMI for August is also released today.”

“In the euro area, the first estimate of German GDP growth for Q2 is out. Throughout Q2, German activity indicators have reached historical highs signalling strong growth in Q2. The euro area reported quarterly growth of 0.6% last week and we expect a similar quarterly growth rate in Germany.”