Main data of the week.[E]

This week's economic calendar will be full of key data from USA, Europe and Japan. The market will mainly focus on US figures which will determine the rebound or slowdown of the economy. Market will have Q2 GDP figures. New data will come on Tuesday. The National Association of Realtors will post it’s existing sales report which will probably show 6.65 mln.y/y decline versus May 6.67 mln. The same day Confidence Board will publish its Consumer confidence index with a possible decline to 105.0 against 105.7 in prior month.
On Thursday Durable goods orders will be issued. Analytics assume data firmed 2% after recent decline on 0.3% in May. Traditional Jobless Claims will add Thursday’s schedule.
Friday will show US Q2 GDP estimations. The economy slowdown is awaited with a data advance only on 3.1% after +5/6% in Q1. Final July Michigan sentiment index will be also post in the end of the week. Index may stay at 83.0 pp.
On Wednesday German institute IFO will post its business confidence index which will possibly show July data drop to 106.2 versus 106.8.
Japan will publish inflation data on Thursday which can bring the light on a further BOJ monetary policy outlook. Last Friday BOJ stepped to era of non zero-percent rates policy boosting its benchmark on 0.25%.