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European Economics Preview: Germany Unemployment, Retail Sales Data Due

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Unemployment and retail sales from Germany and house prices from the UK are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's retail sales and unemployment for May. Sales are forecast to fall 3.5 percent on a yearly basis, following a 6.5 percent decrease in April.

In the meantime, UK Nationwide house price data is due. Economists forecast house prices to fall 0.7 percent on month in June, but slower than the 1.7 percent decrease seen in May.

At 3.00 am ET, unemployment from Austria and manufacturing PMI from Turkey and Hungary are due.

At 3.15 am ET, IHS Markit is slated to issue Spain's manufacturing PMI survey data. Economists forecast the index to rise to 45.1 in June from 38.3 in May.

At 3.30 am ET, Sweden's central bank announces the outcome of its monetary policy meeting.

At 3.45 am ET, Italy's manufacturing PMI data is due. The indicator is forecast to improve to 47.7 in June from 45.4 in the previous month.

Thereafter final PMI survey results are due from France and Germany at 3.50 and 3.55 am ET.

At 3.55 am ET, Germany's Federal Employment Agency releases unemployment data for June. The jobless rate is forecast to rise to 6.6 percent from 6.3 percent in May.

At 4.00 am ET, Eurozone final PMI data is due. The final reading is seen at 46.9 in June, unchanged from flash estimate, versus May's 39.4.

Half an hour later, UK CIPS/Markit final factory PMI survey results are due. The final PMI score is expected to match the flash estimate of 50.1 in June.

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