In the US, the most important releases are inflation rate; retail trade; industrial production; the preliminary reading of Michigan consumer sentiment; JOLTs job openings; producer and foreign prices; consumer credit change; NFIB Business Optimism Index; business inventories; the government's monthly budget statement; and the final reading of wholesale inventories.
The Bank of England will hold its monetary policy meeting, but no changes are expected. Regarding UK's economic calendar, key data to be published include monthly GDP figures, alongside industrial production, construction output, trade balance, unemployment and wage growth.
Elsewhere in Europe, the ECB will also be deciding on monetary policy, with markets anticipating no changes, while Turkey's central bank is likely to raise rates in an attempt to support the falling lira. Important economic data include: Eurozone industrial production, employment change and trade balance; Germany ZEW Economic Sentiment Index; Turkey and Ireland Q2 GDP growth; and Italy industrial output.
In Japan, analysts are eyeing the publication of the final estimate of Q2 GDP growth rate, machinery orders and current account. Meanwhile, China is releasing inflation, industrial production, retail trade, fixed asset investment and foreign direct investment; while Australia is set to publish figures for NAB Business Confidence, Westpac Consumer Confidence and employment figures.
Other key highlights include: Canada house prices; Brazil retail trade; India inflation, wholesale prices, industrial output and trade balance; and Russia final Q2 GDP growth, interest rate decision and trade balance.