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WASHINGTON (Reuters) – World markets are ready for important US economic data on Wednesday and Thursday, reflecting the health of the US economy, the world's largest during the coming period, which is expected to be the largest in the world. this is US retail sales or industrial production, as well as data on consumer inflation of the month. Last July, growth should be 1.7%.
This was done during a lengthy report from the Bloomberg agency, which reviews the most important global economic data expected this week, that it is about growth or inflation rates, retail sales and industrial production of many major economies of the world, which constitute one of the major drivers of the global economy.
The US Federal Reserve's agenda has not gained momentum this week after taking the lead in the global economy over the last two weeks and its recent decision to cut interest rates 25 basis points for the first time in 10 years, attention is now focused on the European continent. LONDON (Reuters) – Germany, the continent's largest economy, will release its second-quarter growth data on Wednesday, while a contraction of 0.1 percent was expected in the second quarter from the first quarter.
The German economy, largely dependent on export earnings, has been hit by the escalation of the trade war between the United States and China, which is likely to be hit by a recession, especially as large Companies such as Delmar, Lufthansa and BASF have reduced their growth forecasts. Noting that German industrial production recorded its largest annual decline in nearly 10 years last June, while business confidence indicators declined, in line with the decline in German exports.
"Disappointing German data could give the ECB additional incentive to adopt monetary easing measures in September," said Jimmy Ras, chief economist for European affairs at Bloomberg Economics. The latest indices point to below-forecast growth for the German economy in the second half of the year. The weakening of the industrial sector, including services and the labor market, is also widespread in Europe, but this time from the United Kingdom, which is going through a difficult phase where its departure to Brexit is supposed to take place on October 21st. but without so far, he has reached an agreement with the Europeans.
Investors are waiting for labor market data, inflation and retail sales, which should help the Bank of England to decide whether the UK economy needs stimulus measures or more measures strict.
Russia does not remain isolated from successive global developments, so it is expected that the growth rates of the Russian economy in the second quarter of the year are disappointing because of repercussions of the trade war and sanctions imposed by Washington, which puts more pressure on the administration of Russian President Vladimir Putin, who promised to make an economic leap.
In addition to the situation of the Asian continent, which is a major player in determining the compbad of the global economy, where the focus is on investment data and the Chinese employment sector as well as on sales Chinese retail in the month of July, to be released Wednesday, especially at a time when China is stuck, The largest and second largest economy in Asia in the world, a fierce trade war with the United States.
According to Bloomberg, the daily reference price of the yuan has become a concern for investors at the present time to determine whether the central bank's decision to revalue the Chinese currency below 7 yuan against the dollar the last week was a deliberate action of the Chinese authorities to slander the administration. US President Donald Trump has announced the imposition of additional tariffs on imports from China.
Investors are waiting for the release of the Australian Jobs Report on Thursday, which is expected to play a central role in determining the next move for the Reserve Bank of Australia, its chairman, Philip Lowe, having made it clear that a weak Unemployment rate was needed to trigger wage and inflation rises.
In Latin America, data on Brazil's industrial activity should make it possible on Monday to determine whether the continent's largest economy was affected by a recession in the second quarter of the year, in addition to the publication on Tuesday of Inflation data in Argentina, and should be relatively low The mayor president, Mauricio Macri, will participate in the efforts he is deploying to restore confidence in the local economy ahead of the presidential elections scheduled for October.
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