Guide to today’s important data and events

Not many economic dockets scheduled for today, risks associated are low.

Data released so far:

• Switzerland - Retail sales dropped by -0.9% in June from a year ago.

• Japan - preliminary reading shows Japan is back in recession in second quarter with growth sliding as much as -0.4% on quarterly basis.

• Euro zone - Euro zone trade balance for June came at €21.9 billion in June.

Upcoming:

• Germany - Bundesbank to release monthly report at 10:00 GMT.

• US - NY Empire state manufacturing index for August to be released at 12:30 GMT. NAHB housing market index to be released at 14:00 GMT. Treasury department will release data on Treasury international capital flows at 20:00 GMT.

• Canada - Portfolio investment statistics to be released at 12:30 GMT.

• Auction - US will auction 3 month and 6 month bills at 15:30 GMT.