SWITZERLAND DATA: June Retail Sales Outperform
Jul-31 07:51
Swiss (real) retail sales were strong in June, at +1.5% M/M, the highest sequential reading in the series since July 2024 (-0.4% prior).
- Broad-based strength in the data suggests the Swiss consumer remains overall resilient.
- Remember that yesterday's KOF also saw a rebound at 101.1, above consensus of 97.9 vs June's 96.3 despite a US-Swiss trade deal remaining in the pipeline for now.
- From a monetary policy perspective, today's print will be of limited significance as the SNB's main focus is on inflation amid the continued CPI Y/Y readings around 0% in the country.
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MNI: FRANCE JUNE FINAL MANUF PMI 48.1 (47.8 FLASH; 49.8 PRIOR)
Jul-01 07:50
- MNI: FRANCE JUNE FINAL MANUF PMI 48.1 (47.8 FLASH; 49.8 PRIOR)
MNI: ITALY JUNE MANUFACTURING PMI 48.4 (49.5 CONS; 49.2 PRIOR)
Jul-01 07:45
- MNI: ITALY JUNE MANUFACTURING PMI 48.4 (49.5 CONS; 49.2 PRIOR)
EURIBOR OPTIONS: Mid Curve Call Condor
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0RQ5 98.125/98.1875/98.25/98.3125c condor, bought for 1.75 in 3k.
