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Wednesday is a relatively tame day as far as economic announcements go. Wholesale inventories, the trade balance, and FOMC minutes are all on tap in the U.S.Here’s what you need to know.
- South Korea starts things off at 7:00 p.m. on Tuesday evening with a reading of the country’s unemployment rate. Expectations are for a 10 basis point rise in June, to 3.3 per cent.
- Japan’s Tertiary Industry index follows at 7:50 p.m., with expectations for a 0.2 per cent gain in May.
- Australian July Consumer Confidence hits at 8:30 p.m. There is no consensus for the announcement.
- Announcements go quiet until 2:00 a.m. on Wednesday morning with German CPI. Consensus is for a preliminary reading showing a 0.1 per cent sequential decline to hold.
- France’s current account follows at 2:45 a.m., with expectations for the country to post a €3.5 billion deficit in May.
- Portuguese CPI is expected at 5:00 a.m. Economists forecast inflation fell 10 basis points sequentially in June.
- Attention shifts to the Americas at 8:00 a.m., with Brazilian retail sales. Forecasts are for a 0.6 per cent improvement in May.
- The U.S. trade balance follows at 8:30 a.m. Economists see the trade deficit declining to $48.5 billion in May.
- The Wholesale Inventories report is scheduled for 10:00 a.m. Inventories are seen advancing 0.3 per cent in May, following April’s 0.6 per cent gain.
- Closing out the day at 2 p.m. are minutes from the FOMC.
Below, the key earnings announcements scheduled for the day.
Marriott International (MAR): $0.42
Charles Schwab (SCHW): $0.18
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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