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China Data Due On Thursday

China is scheduled to release a raft of data on Thursday, headlining a busy day for Asia-Pacific economic activity. On tap are Q2 figures for GDP and June data for industrial production, retail sales, fixed asset investment and unemployment.

GDP is expected to rise 9.6 percent on quarter and 2.5 percent on year after sinking 9.8 percent on quarter and 6.8 percent on year in the previous three months.

Industrial production is tipped to rise 4.7 percent on year, up from 4.4 percent in May. Retail sales are expected to add 0.3 percent on year after sinking 2.8 percent in the previous month. FAI is tipped to lose 3.3 percent on year after falling 6.3 percent a month earlier. The jobless rate in May was 5.9 percent.

Australia will see June figures for unemployment, with the jobless rate expected to climb to 7.4 percent from 7.1 percent in May. The country is expected to add 112,500 jobs following the loss of 227,700 in the previous month. The participation rate is expected to rise to 63.6 percent from 62.9 percent a month earlier.

The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates. The central bank is widely expected to keep its benchmark lending rate unchanged at the record low 0.50 percent.

New Zealand will release Q2 numbers for consumer prices, with forecasts suggesting a fall of 0.5 percent on quarter and a gain of 1.5 percent on year. That follows the 0.8 percent quarterly increase and the 2.5 percent yearly gain in the previous three months.

The central bank in Indonesia will conclude its monetary policy meeting and then announce its decision on interest rates. The bank is expected to trim 25 basis points, lowering the rate from 4.25 percent to 4.00 percent.

The material has been provided by InstaForex Company – www.instaforex.com