The monetary policy decision from the Bank of England is due on Thursday, headlining a busy day for the European economic news. <\/p>\n
The BoE decision is likely to be a close call between a 25 basis-point and a 50 basis-point hike. The policy announcement and the quarterly monetary policy report are due at 7.00 am ET.<\/p>\n
Purchasing managers’ survey results from the euro area and foreign trade data from Germany are other major economic reports due today. <\/p>\n
At 2.00 am ET, Destatis is scheduled to issue Germany’s foreign trade data. Exports are forecast to grow 0.3 percent on month in June, in contrast to the 0.1 percent fall in May.<\/p>\n
Half an hour later, the Federal Statistical Office releases Swiss consumer price figures. Inflation is seen easing to 1.6 percent in July from 1.7 percent in June.<\/p>\n
At 3.15 am ET, Spain’s services PMI survey results are due. Economists forecast the index to remain unchanged at 53.4 in July.<\/p>\n
At 3.45 am ET, S&P Global publishes Italy’s services PMI data. The services index is seen at 52.2 in July, the same as in June. <\/p>\n
At 3.50 am ET, France’s final PMI survey results are due. The services PMI is expected to match the flash score of 47.4 in July.<\/p>\n
At 3.55 am ET, S&P Global publishes Germany’s services and composite PMI data. Economists forecast the services index to fall to 52.0 in July, as initially estimated, from 54.1 in June.<\/p>\n
At 4.00 am ET, Eurozone final PMI survey data is due. The services PMI is seen at 51.1 in July, in line with flash estimate, and down from June’s 52.0. <\/p>\n
Half an hour later, UK S&P\/CIPS final services PMI data is due. Economists forecast the services PMI to drop to six-month low of 51.5 in July, as initially estimated, from 53.7 in June.<\/p>\n
At 5.00 am ET, Eurostat releases euro area producer prices for June. Producer price are forecast to fall 3.1 percent annually after easing 1.5 percent in May. <\/p>\n
At 8.30 am ET, the Czech National Bank is set to announce its monetary policy decision. The bank is widely expected to hold the benchmark rate at 7.00 percent. <\/p>\n