MondayFor a change, Monday has a rather bleak economic
data
docket and investors can actually focus on fundamentals and earnings.
More than 600 companies are expected to report earnings through Thursday
of next week and volatility could come from those names reporting as
guidance on Europe could give further clarity into the state of the
economy.
TuesdayInvestors will awake Tuesday morning
to the Royal Bank of Australia's interest-rate decision, when Governor
Glenn Stevens is expected to keep rates on hold at 3.5%. He may give
guidance into the state of the world economy and may also comment on
Europe, as Australia is exposed to that region through exports of raw
materials. Later Tuesday, Italy will be in the spotlight with both
industrial-production data for July and Q2 GDP on tap. Also, German
factory orders will be a key number to watch for insight into the state
of the German economy.
WednesdayGerman and Spanish
industrial production mark the early data calendar Wednesday, as Spain
will once again be thrust into the spotlight. Its bonds will surely
react to every data point released. Also, Chinese inflation data is due
out late Wednesday night alongside Australian unemployment. Strength in
Chinese inflation could indicate that the global economy -- at least
global trade -- could be bottoming or even re-accelerating.
Thursday And FridayThursday
brings more data on China as industrial production data is due and
comments on the state of the European economy as it pertains to China
and Chinese exports. Friday also brings more European data, with German
inflation data and French industrial production due out.
Surely
next week should bring further clarity on the state of Europe's economy,
and these data points may help investors better understand the state of
the European economy as a whole.
