The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday.
The strong euro ins unable to cloud the upbeat mood among exporters now. The euro zone still appears to be the most crucial driver for German exports. That’s what Ifo head Clemens Fuest revealed.
In September, Ifo's indicator for export hopes inched up to 18.7 points from August’s outcome of 18.2, with managers from almost all industrial sectors giving a more positive outlook.
Only car makers had to cope with an evident damper. Currently there aren’t any opportunities for export surge, as Fuest told.
Germany's car industry, the country's number one exporter with 800,000 employees, is facing an emissions scandal.
European Union as well as German antitrust regulators are also trying to figure out whether Mercedes-Benz, Audi, Volkswagen, Porsche and BMW held secret gatherings to discuss prices, suppliers and standards to the disadvantage of foreign car makers.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
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