Monday will lack important news so the week for investors will actually start on Tuesday. The Bank of Japan is expected to keep interest rates at 0.5%. Any other decision will be a surprise to the markets. News that the biggest European economy is slowing down due to the slowdown of its biggest economy – Germany, will cause investors to focus on the German ZEW Economic Sentiment reports as well as on the German PPI. In the afternoon, in the spotlight will be news from the U.S – the PPI report and Building Permits publication.

Wednesday will be much calmer. The Bank of England will publish its minutes from their last meeting. Investors playing on the CAD will certainly wait for the Canadian Retail Sales report.

Thursday will be rich in macroeconomic publications but investors will need to focus only on a couple of them. From Europe important will be the Euro zone’s PMI and British Retail Sales. We will also get more news from the Canadian economy with the CPI report. From the U.S we will expect the weekly unemployment claims publication and the Philadelphia Fed Manufacturing Index.

On Friday investors’ attention will be on the British revised GDP report and on Ben Bernanke’s speech. The Fed’s Chairman is due to speak about financial stability at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole.

Adam Narczewski