This week amidst the silly season will be relatively eventless, or at least there will be only a few macroeconomic releases. Knowing Donald Trump, however, he could always throw another pebble - or possibly a rock - into the pond of news, and in Hungary we should keep an eye on the forint.
By the time you read this article, China will have published its second quarter GDP data early on Monday. The Far Eastern country kicks off the barrage of data releases for the next fortnight, as by the middle of August all key countries of the world will publish reports about their latest growth figures. Hungary’s Central Statistical Office (KSH) is set to release construction sector stats for May. In the second half of the day, we should keep an eye on a U.S. data and the International Monetary Fund’s (IMF) World Economic Outlook.
On Tuesday, we’ll be left only with the Government Debt Management Agency’s (ÁKK) regular weekly auction of short T-bills. Overseas, eyes and ears will be on Fed President Jerome Powell who is facing his half-yearly senate hearing where he could talk about next year’s interest rate course, as well.
On Wednesday, we’ll have inflation data from Europe, and the release of the Beige Book, a publication analysing the state of the U.S. economy, by the Fed. On Thursday, we might want to take a look at the ÁKK’s bond auction in view of the recent rise in government security yields, and investors abroad will focus on U.S. retail sales data. A single Hungarian data release is left for Friday when the stats office will publish data for earnings in May.
