FxWirePro: The Day Ahead- 5th July 2016

Lots of economic dockets scheduled for today but all with low to medium volatility risks associated.

Data released so far:

• Australia: Trade balance for May came at $2.2 billion deficit. Exports rose 1 percent and imports 2 percent. Retail sales grew 0.2 percent in May. RBA kept interest rates steady.
   
• New Zealand: ANZ commodity prices rose 3.7 percent in June.
   
• China: Caixin services PMI improved to 52.7 in June from 51.2 in May.

Upcoming:

• Spain: Markit services PMI for June will be released at 7:15 GMT. Prior 55.4
   
• Italy: Markit services PMI for June will be released at 7:45 GMT. Prior 49.8
   
• France: Markit services PMI for June will be released at 7:50 GMT. Prior 49.4
   
• Germany: Markit services PMI for June will be released at 7:55 GMT. Prior 53.2
   
• Eurozone: Markit services PMI for June will be released at 8:00 GMT. Prior 52.4, retail sales report for May will be published at 9:00 GMT.
   
• United Kingdom: Markit services PMI for June will be released at 8:30 GMT. Prior 53.5 Bank of England will release financial stability report followed by governor Carney’s speech. BRC shop price report will be released at 23:00 GMT.
   
• United States: ISM New York index will be published at 13:45 GMT, followed by Factory orders at 14:00 GMT, along with TIPP economic optimism. NY Fed President Dudley is scheduled to give a speech at 18:30 GMT.
   
• New Zealand: Dairy auction is scheduled today.
   
• Auctions: US will auction 3 and 6-month bills at 18:30 GMT.