THE US debt debate is likely to remain centre stage this week as the August 2nd deadline for raising the country’s $14.3 trillion (€9.94 trillion) debt ceiling looms.
In Europe, the spotlight event of the week is likely to come on Thursday when the ECB holds its monthly policy meeting, though interest rates are expected to be left unchanged.
Ireland’s public finances will be back in focus on Wednesday with the release of the exchequer balance up to the end of July, while Thursday’s live register figures will also be closely watched.
MONDAY
August bank holiday.
Results: TNT Express.
Indicators: EU-17 Markit manufacturing PMI (Jul) and unemployment (Jun); US construction spending (Jun), ISM manufacturing (Jul) and vehicle sales (Jul); UK CIPS manufacturing PMI (Jul).
Other: EU-IMF mission starts first quarterly evaluation of Portugal bailout programme.
TUESDAY
Results: Archer Daniels Midland; Becton Dickinson; BNP Paribas; Deutsche Post DHL; NTR; Pfizer.
Indicators: Irish manufacturing PMI (Jul); US personal income (Jun).
Other: Deadline for US Congress to raise the $14.3 trillion debt ceiling; launch of OECD economic survey of Greece; Opec monthly oil market report.
WEDNESDAY
Results: Taylor Wimpey.
Indicators: EU-17 manufacturing services PMI (Jul); Irish exchequer returns (Jan-Jul) and response burden barometer (2010); US ADP employment (Jul), ISM. non-manufacturing PMI (Jul) and factory orders (Jun); UK CIPS services PMI (Jul).
Other: Portuguese government to present revised 2011 budget to reflect bailout terms.
THURSDAY
Results: Aviva; Axa; Ladbrokes; Tesco; Unilever.
Indicators: ECB interest rate announcement; Irish live register (Jul), national income and expenditure (2010) and services PMI; US initial jobless claims (w/e Jul 30th); UK BoE interest rate announcement; German industrial orders (Jun).
FRIDAY
Results: Allianz; Buzzi Unicem; William Hill.
Indicators: Irish consumer confidence (Jul); US non-farm pay rolls (Jul) and consumer credit (Jun).
