On Thursday, significant economic updates are expected, focusing on GDP and foreign trade data from the UK and final inflation figures from Germany.
At 2:00 AM ET, the Office for National Statistics will release the UK's GDP, industrial production, and foreign trade figures.
Projections indicate that the UK economy may grow by 0.2 percent month-on-month in May, following a stagnant April. Analysts predict a rebound in industrial output by 0.3 percent in May, recovering from a 0.9 percent decline in the previous month. The visible trade deficit is anticipated to be GBP 15.6 billion, an improvement from the GBP 19.6 billion deficit recorded in April.
Simultaneously, Destatis will release Germany's final consumer and harmonized price indices for June. Preliminary estimates suggested a slight decrease in consumer price inflation to 2.2 percent from 2.4 percent in May. It is expected that the statistical office will confirm these initial figures. Additionally, at 6:00 AM ET, Ireland will release its final consumer price data for June. Later, at 8:00 AM ET, the National Institute of Economic and Social Research will publish the UK monthly GDP tracker for June.
