The Business News Week Ahead

A light week is expected, one that will include two major central bank announcements and July's run of PMI flashes. Neither China's loan prime rate on Tuesday nor the policy tools of the European Central Bank on Thursday are expected to see any changes. Inflation data will be limited to Japan's CPI on Tuesday, where only fractional pressure is the call, and the German PPI, also on Tuesday were mixed but still elevated results are expected. Consumer data will be highlighted by the Eurozone's consumer confidence flash where improvement is expected, and by Canadian retail sales on Friday where improvement is not expected. Business data will include Japanese merchandise trade data on Wednesday and the French business climate indicator on Thursday. US data will include weekly jobless claims on Thursday, preceded on Tuesday by housing starts and permits, and followed on Friday by a PMI update that is expected to show substantial strength especially for services on the reopening of the US economy. Very solid readings in the high 50s to mid-to-low 60s are expected for the run of European PMIs, likewise all released Friday.