Markets are still watching developments in the trade war between the world's two largest economies and how this will affect the recovery of the global economy. The focus will be on the next step for China, which said on Friday it was targeting $ 60 billion in tariffs on US goods by 5 percent and 25 percent, following Trump's proposal to impose a 25 percent tariff on $ 200 billion worth of goods Chinese.
The highlights of this week's economic are:
Australian Interest Rate Decision
The Reserve Bank of Australia is due to announce its interest rate decision and is widely expected to remain unchanged at 1.50%. The last time the bank changed interest rates was in August 2016 two years ago. With the economy stable and inflation, Philippe Lowe, Reserve Bank of Australia governor is expected to continue his neutral tone, and any comment on trade will be seen from the markets.
New Zealand interest rate decision
Also, the New Zealand interest rate decision is due to be announced as the Reserve Bank of Australia the RBNZ has not changed interest rates since 2016, and the interest rate is expected to remain unchanged at 1.75%.
Trade data in China
China's trade data will be released next Wednesday and trade surplus is expected to narrow to $ 39.1 billion. Exports are also expected to rise by 10 percent and imports by 17 percent. Chinese inflation data will also be released next Thursday.
British Growth Data
The market's attention will be directed towards UK GDP figures for the second quarter of 2018 and the health of the economy. GDP is expected to rise by 0.4% after growing by 0.2% in the first quarter.
The Bank of England raised interest rates to 0.75% for the second time in a decade and noted that it was not in a hurry to raise interest rates as Britain's departure from the EU approached.
US inflation data
Inflation data in the US will be released next Friday and is expected to provide further support for the return of inflation to the Federal Reserve target. The consumer price index is expected to rise by 0.2% in July, and with excluding food and fuel prices, is expected to rise by 2.3% yoy.
