Economic Calendar: Is German Industry Reviving? (07.07.2026)
Key Highlights
Recent economic data from Germany indicates a potential revival in its industrial sector. Durable goods orders have shown a surprising growth of 6.2%, and industrial production for May has increased by 0.9% month-on-month, surpassing expectations.
This positive trend is anticipated to be bolstered by a significant fiscal stimulus package announced by Chancellor Friedrich Merz in March of the previous year, which allocated €500 billion for investments in infrastructure, healthcare, energy, and digital modernization.
Eurozone Overview
In the Eurozone, the Producer Price Index (PPI) inflation for May has risen to 5.9%, aligning with market expectations. Retail sales data has also remained stable, showing a year-on-year increase of 1.6%.
United States Economic Indicators
In the United States, the PMI indicators for June have been revised downwards, with the composite index settling at 51.9. This suggests a slowdown in economic growth compared to the robust 2.7% growth recorded in Q1.
Hungary's Economic Situation
Hungary's inflation measures have remained low, with the headline inflation dropping below the target deviation at 1.7%. The Hungarian National Bank (MNB) is expected to continue easing monetary policy, having recently reduced the benchmark interest rate to 6%.
Upcoming Economic Events
On the macroeconomic calendar for Tuesday, notable events include:
- UK: Speech by BoE Governor Andrew Bailey at 11:30 AM
- US: Speech by FOMC member Michelle Bowman at 12:00 PM
- US: Trade balance for May at 12:00 PM (Consensus: -$78.3 billion, Previous: -$55.9 billion)
Market Insights
Three markets to watch include:
- US100: Nasdaq 100 futures are down over 1%, with negative sentiment surrounding AI leaders following Samsung's preliminary Q2 results.
- Coffee and Cocoa: Prices have surged over 40% in the past month due to concerns over extreme weather conditions in Ghana, Ivory Coast, and Brazil, attributed to the ongoing El Niño phenomenon.
- EUR/USD: The pair has slightly risen above 1.14, with anticipation for the release of the FOMC meeting minutes on Wednesday.