Important data releases and events to look out for next week

Purchasing managers index - manufacturing and services data of the United States, and more

JULY 20 

India: Credit and deposit growth of scheduled commercial banks and foreign exchange reserves 

On Friday, the Reserve Bank of India (RBI) will release data on bank credit and deposit growth up to June 29. It will be interesting to observe whether bank credit, which as per the previous release had expanded by 12.8 per cent, will continue its upward march. Separately, the RBI will also release data on foreign exchange reserves which will provide insights into the RBI's recent interventions in the foreign exchange market. 

Previous reading (June 22)

Forex reserves: $405.81 billion 

Bank deposits: 7.6%

Bank Credit: 12.8%

JULY 24 

United States: Purchasing managers index - manufacturing and services 

On Monday, Market Economics will release the purchasing managers index - manufacturing and services for the US. The data will reveal the extent to which economic activity is gaining traction as the Federal Reserve prepares for another rate hike later this year. 

Previous reading (June)

PMI Manufacturing: 55.4

PMI services: 56.5

JULY 25

United States: New home sales and EIA crude oil stocks 

On Wednesday, July 18, data on sales of new home sales will be released in the US. The previous data showed that sales had jumped 6.7 per cent to a seasonally adjusted annual rate of 689,000 units last month, the highest level since November 2017.  

Separately, the US Energy Information Administration will release data on crude oil stocks which has important implications for the global oil market. In early July, the EIA had said that US crude oil stocks had fallen by nearly 13 million barrels, the most in nearly two years, dropping overall crude stocks to their lowest point since February 2015.

Previous reading 

New home sales: 689,000