Precious metals, much like many other commodities, changed direction from last week and declined on Monday. The speculations around the future plans of ECB and Bank of China in regards to their respective stimulus plan could continue influencing bullion traders. Currently, gold and silver prices are rising. On today's agenda: Great Britain CPI, Euro Area GDP 2Q2012, German and Euro Area ZEW economic sentiment, U.S. Retail Sales, Euro Area Industrial Production and U.S. Producer Price Index.
On Today's Agenda
U.S. Retail Sales Report: this report will show the monthly changes in the retail sales and food services for July 2012; in the recent report regarding June, the retail sales declined by 0.5% from the previous month;
Euro Area GDP 2Q2012 Report: Euro Stat will also publish the GDP growth rate of the Euro Area. According to the previous report, during the first quarter of 2012, the Euro Area GDP didn't grow (Q-o-Q). This news might affect the Euro; the current expectations are of another a low growth rate or even another contraction for the second quarter;
U.S. Producer Price Index: In the recent report regarding June this index for finished goods edged up by 0.1% compared with May's rate and increased by 0.7% in the last 12 months; this news might affect bullion rates;
Euro Area Industrial Production: in the previous report the EU industrial production was up by 0.6% (M-O-M) during May;
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