06:00 EUR German Consumer Price Index June (YoY)
Forecast: 1.7% Previous: 1.7%
Assesses changes in the cost of living by measuring changes in the prices of consumer items. The CPI is the headline inflation figure that indicates the strength of domestic inflationary pressures. In other words, inflation reflects a decline in the purchasing power of the Euro in Germany, where each Euro buys fewer goods and services. CPI is the most popular way to measure changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical German household might purchase.
12:30 USD Trade Balance
Forecast: -48.4B Previous: -50.1B
The US Trade Balance refers to the difference between exports of goods and services out of the US, and imports to America. The trade balance is one of the biggest components of the US’s Balance of Payment, which gives valuable insight and heavy pressure on the value of the dollar. A positive Trade Balance (surplus) indicates that exports are greater than imports. When imports exceed exports, the US experiences a trade deficit.
14:30 USD U.S. Crude Oil Inventories July 6
Forecast: -1375K Previous: -4270K
Change in the number of barrels of crude oil held in inventory by commercial firms during the past week. It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.
18:00 USD Fed Releases Minutes from June 19-20 FOMC Meeting