MILANO – Week in the sign ofAmerican inflationscheduled for Thursday. Prices in July they should rise to 3.3% (up from 3% the previous month) according to the consensus of economists gathered by Bloomberg. “This rebound – Mps analysts underline – should be supported by the recent rise in fuel prices”. On the other hand, core inflation is expected by the consensus to remain stable at 4.8%, in line with the June figure. On Wednesday they come out instead data on Chinese inflation. Consumer prices in July are expected down 0.5% on a monthly basis. The expectation is that therefore China goes into deflation. “For the markets, the drop in prices – notes Vincenzo Bova of Mps – is the sign of a weakening of the economy. And this means two things: on the one hand, that the chances that the government and the central bank introduce new stimuli for the economy; on the other, it is confirmation that demand in China is weak”. At Piazza Affari, however, the last week of the six-monthly reports is awaited by companies, including Generali on Wednesday and Unipol on Friday.
Monday 7th August
Looking at Europe, a series of macro data are on the calendar starting from Germany with industrial production. To keep under observation then the Japanalso in light of the fact that the BoJ remained the last central bank extremely accommodating among those of the G7. They will be published on Monday the minutes of the last meeting of the institute in which the tolerance band of the yield control program was widened. The appointment is important to understand if clues will emerge on the next moves even if, recently, the deputy governor, Shinichi Uchida Explains Policy Change Not Herald of Exit from Ultra-Low Interest Rates .
From Corporate America, however, there is expectation for the Tyson Foods data
Tuesday 8th August
Dal Japan data will be announced national wages expected at 3%, the level above which the BoJ believes wage pressures could have an impact on future inflation.
Of the companies, the main ones to communicate the data in Europe are Bayer, Porsche and in the USA UPS, Eli Lilly.
Wednesday 9th August
Inflation in China is expected to drop to -0.5%, given that, if confirmed, it would represent the lowest since 2020. From companies there is expectation for the half-yearly report of Generali, E.On, (Wednesday),
Thursday 10 August
In addition to the data on US inflation, the most awaited of the week, Italy also announces the cost of living for July. There Bce he announces his own instead bulletin, from which we will know more about the state of health of the Eurozone economy. Under the magnifying glass the results of Siemens, Allianz, Deutsche Telekom and Rwe
Friday 11th August
US producer prices are arriving, also expected to accelerate (0.7% from 0.1%). Turning to Europe, the French and Spanish inflation figures are announced, but that is the greatest expectation of UK GDP of the second quarter which should confirm a certain stagnation. The estimates are, in fact, for an unchanged figure on a quarterly basis from 0.1% in the first quarter). From the companies there is expectation for the data of Unipol, which closes the half-yearly session of Piazza Affari and from Wall Street for those of Walt Disney.