US CPI data on the way as US President Trump heads to the UK

At 08:30 GMT, UK BOE Credit Conditions Survey will be published. This is a survey of lenders which asks respondents to rate the level of credit conditions, including secured and unsecured loans to households, small businesses, non- financial corporations and non- bank firms. GBP pairs can move because of this data release.

At 09:00 GMT, Eurozone Industrial Production w.d.a. (May) will be released with the consensus for 1.2% (MoM) and 2.8% (YoY) from a prior reading of -0.9% (MoM) and 3.0% (YoY). This data is expected to increase today with the monthly figure moving back into positive territory after falling under zero last month. The expected rise in the data is positive after months of sluggish economic data coming out of the Eurozone. The EUR can be moved by this data.

At 12:30 GMT, US FOMC Member Kashkari is due to speak at a scheduled event. USD pairs can be moved by any comments made.

At 12:30 GMT, US Consumer Price Index (Jun) data will be released with an expected reading of 0.2% (MoM) and 2.8% (YoY) from 0.2% (MoM) and 2.9% (YoY) previously. Consumer Price Index Ex Food & Energy (Jun) data will be released with an expected reading of 0.2% (MoM) and 2.3% (YoY) against 0.2% (MoM) and 2.2% (YoY) previously.

US Initial Jobless Claims (Jul 2) are expected to come in at 225K from 231K previously. Continuing Jobless Claims (Jun 25) are expected to be 1.720M from a prior 1.739M.

At 16:15 GMT, US FOMC Member Harker is due to speak at the Virginia Society of Certified Public Accountants. Audience questions expected. USD pairs can be moved by any comments made.

At 18:00 GMT, The US Monthly Budget Statement (Jun) will be released with an expected balance of $-98.2B from a previous $-147.0B. This data is expected to remain firmly in negative territory as seasonal factors affect the calculation of this metric. The previous reading dropped from the high in April 2018 of $182.4B. USD pairs may be moved by this data.