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In the US, industrial production may have risen moderately in June, echoing a slight expansion of output in the manufacturing sector, according to analysts at National Bank Financial.

Key Quotes

“Also in June, retail sales likely grew for a fifth consecutive month thanks in part to an increase in auto sales. Excluding autos, sales may have proved slightly less vigorous with declining pump prices putting a dent in gasoline station receipts.”

“We’ll also get housing data for June, with a decrease expected for housing starts following an outsized jump the prior month.”

“The first clues on the state of the manufacturing sector in July will be available with the publication of the Empire State and Philly Fed manufacturing surveys.”

“Finally, the Fed will issue the latest edition of its Beige Book. On Tuesday (July 17th) Jerome Powell, the Fed’s Chair, will deliver his semi-annual report on the economy and monetary policy before the Senate Banking, Housing, and Urban Affairs Committee.”