THE KEY indicator this week will be the half-year Exchequer returns due out today, which will indicate whether or not Ireland is on target to meet its budget deficit requirements for 2011.
Meanwhile the ECB meets on Thursday amid speculation that a quarter-point interest rate hike is on the cards, which would bring the euro zone rate to 1.5 per cent.
TODAY
US market holiday – Independence Day
Meeting: Taoiseach Enda Kenny to address ICTU’s biennial delegate conference (INEC, Killarney); Tánaiste Eamon Gilmore speaks at the IIEA; Copyright Review Committee holds public meeting (TCD)
Indicators: EU-17 Sentix Investor Sentiment Index (July) and Producer Prices (May); Irish Bord Gáis Energy Index and Exchequer Balance (June); UK Construction PMI (June)
Other: US Ambassador Dan Rooney to host Independence Day party
TOMORROW
Meeting: IIEA Agri Food conference (RDS); Europlace international financial forum “Challenges of the financial sector: combining new regulations and economic growth” (to 6th, Paris); ECB economics conference on emerging Europe From crisis to recovery: old and new challenges in emerging Europe (to 6th)
Indicators: EU-17 Markit Services PMI (Jun) and Retail Sales (May); US Factory Goods Orders (May); UK CIPS Services PMI (June)
Other: Trading updates from Tullow Oil and Persimmon
WEDNESDAY
Indicators: EU-17 Final GDP (Q1); Irish Livestock Survey (December); US Services/Non-Manufacturing ISM (June); UK BCC Quarterly Manufacturing Survey (Q2) and BRC Shop Prices (June); German Industrial Orders (May)
THURSDAY
Meeting: TVC Holdings agm (Merrion Hotel, D2); Air France KLM agm (Paris); ECB Governing Council meeting followed by interest rate announcement
Indicators: US ADP Employment Report (June) and Weekly Jobless Claims (w/e July 2nd); UK – Industrial Production (May), NIESR GDP Estimate and BoE Policy Announcement
Other: Allsop Space Distressed Property Auction (Shelbourne Hotel); EU-Central Asia Energy Finance and Investment Summit (Vienna)
FRIDAY
Meeting: ECB Executive Board member Lorenzo Bini Smaghi speaks at Hellenic Foundation for European and Foreign Policy event (Greece)
Indicators: Irish Milk and Milk Products Supply Balance (2010); US Non-Farm Payrolls (June), Wholesale Inventories (May) and Consumer Credit (May); UK PPI – Input (June)
