| Today's Economy
Be Skeptical, but Don't Ignore U.S. Initial Claims Claims suggest job growth was very strong in July, but we don't buy into all the hype. Timing of ECB's QE Change Is Uncertain Europe's central bank shouldn't rush to adjust its policy stance. Delving Into Our Aussie CPI Forecast There's added downside risk following New Zealand's disappointing consumer price print. Economic Briefing: Hawks Invading the ECB The ECB will drop its QE bias at its July policy meeting. » VIEW MORE TODAY'S ECONOMY
Commentary
Latin America Economic Preview: 24-28 July Activity likely grew slowly in Argentina and Mexico, and Chile's industry will show improvement. Asia-Pacific Weekly Highlights and Preview, 21 July, 2017 Japan's inflation is going nowhere quickly. Germany Outlook: Economy in High Gear Despite robust expansion, imbalances are increasing because of ultra-low interest rates. Thailand Outlook: Improvement Clouded by Uncertainty The export-driven recovery is overshadowed by the continued weakness in investment. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Monetary Policy
Jul. 2017:
Japan
Monetary Policy
Jul. 2017: ¥80 tril.
The Bank of Japan has slowed its pace of asset purchases in recent months despite lowering its inflation forecast. Germany
Producer Price Index
Jun. 2017: 2.4%
Producer prices rose 2.4% y/y in June, following a 2.8% increase in the previous month. United Kingdom
Retail Sales
Jun. 2017: 2.9%
U.K. retail sales came in line with expectations and increased by 0.6% m/m in June, partially reversing May’s 1.1% decline. Euro Zone
Monetary Policy
Jul. 2017: 0.0%
The European Central Bank made no significant changes to its monetary policy in July. United States
Jobless Claims
July 15: 233,000
Initial claims for unemployment insurance benefits in the week ended July 15 confirm the case for a steadily improving labor market. United States
Philadelphia Fed Survey
Jul. 2017: 19.5
The Philadelphia Fed Manufacturing Business Outlook Survey disappointed in July, yet remains in positive territory. United States
St. Louis Fed Financial Stress Index
July 14: -1.505
The St. United States
Conference Board Leading Indicators
Jun. 2017: 0.6%
Better times appear to lie ahead for the U.S. economy. United States
Natural Gas Storage Report
July 14: 28 bil cubic feet
Natural gas inventories increased by less than industry analysts were expecting, which will put upward pressure on prices. Argentina
Retail Sales Index
May. 2017: 12.3%
The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 12.3% y/y in May, after 8.9% in the previous month. » VIEW MORE ECONOMIC INDICATORS | 
