The Eurozone theme next week is surveys and they are all jam-packed into one day. France, Germany, and the Eurozone will release PMI manufacturing and services indices on Thursday. The German IFO business climate survey and Eurozone current account are due up that day as well. Nothing scheduled on the speaking docket thus far.

Japan sees a relatively light week, though most of the releases are top tier. Monday sees the all industry activity index and this is followed by the merchandise trade balance on Wednesday. Thursday is the big day with consumer price data on deck. We will also hear from the BOJs Mizuno who is scheduled to speak on Thursday.

The UK sees some pretty significant data next week as well, starting with the Rightmove home price data on Sunday evening. On Wednesday well get a look at the Bank of England minutes from their recent interest rate decision. It will be interesting to see if and how the balance of risk between growth and inflation has shifted. Thursday will see another key data point with the retail sales report, while Friday closes out the week with 2Q GDP.

The calendar is light in Canada but key nonetheless. Tuesday sees the retail sales report while Wednesday has consumer prices on tap. These top tier data points should elicit some price action in CAD.

Down under is light but important as well, with Australian producer prices and New Zealand credit card spending on Monday. Wednesday sees Aussie consumer prices and the all important RBNZ rate decision. The market expects the central bank to keep rates steady at 8.25%, but given the very real deterioration in New Zealands economic growth, the risk here is that they take rates lower. Stay tuned for some major moves in Kiwi (NZD/USD) if the bank surprises.

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