Macro commentary

UK 2Q GDP growth came today 0.8% as expected, but it’s bit out-of-date as NIESR published more advanced reading of 0.6% GDP growth for last three months suggesting, that UK economy is slowing down a bit.

Today markets await US and Canadian data.

US will release bunch of important data that may confirm or shift fierce outlook for US economy. Industrial productio, capacity utilization or consumer sentiment (and other measures) may show signs of slowing down – in line with soft retail sales this week – or may confirm robust recovery in.

Canada will publish employment data once again as previous reading, from last Friday, came with serious flaw – as Canada Statistics admitted this week. Also we will see home sales and manufacturing sales numbers.

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