Eurozone’s June trade deficit EUR24.60 bln (expected deficit of EUR20.00 bln; last deficit of EUR28.40 bln). August ZEW Economic Sentiment -54.9 (expected -57.0; last -51.1)
Germany’s August ZEW Economic Sentiment -55.3 (expected -53.8; last -53.8) and ZEW Current Conditions -47.6 (expected -48.0; last -45.8)
U.K.’s June three-month employment change 160,000 (expected 256,000; last 296,000), June Claimant Count Change -10,500 (expected -32,000; last -26,800), and June Unemployment Rate 3.8%, as expected (last 3.8%). June Average Earnings Index + Bonus 5.1% yr/yr (expected 4.5%; last 6.4%)
Germany’s ZEW economists cautioned that markets expect further weakening of Germany’s economy and additional pressure on profit expectations.
There are growing expectations that a nuclear deal with Iran will be reached.
Germany’s natural gas consumption was down 15% in the first half of 2022, according to BDEW.