In the U.S., focus will be on the advance Q2 GDP growth rate, PCE inflation, personal spending and income, S&P Global Manufacturing and Services PMI, durable goods orders, and existing home sales. Additional data to watch include the Richmond Fed Manufacturing Index, Chicago Fed National Activity Index, and Michigan consumer sentiment.

Globally, Manufacturing and Services PMI data will be released for Australia, Japan, India, France, Germany, the Euro Area, and the UK. Germany will also publish its Ifo business climate and GfK consumer confidence indices. The Bank of Canada, Central Bank of Turkey, and People’s Bank of China will announce their interest rate decisions. South Africa will report its inflation rate, and South Korea will update its Q2 GDP.

In Asia, the PBOC is expected to maintain its loan prime rates, reflecting recent yuan pressures. China's FDI data is anticipated to show continued contraction. Key PMI data for July is awaited for Japan, Australia, and India. India will release its FY2025 budget, which investors are keenly awaiting to see if PM Modi made concessions on added spending for payouts in his new coalition. Additionally, Singapore and Malaysia will unveil July inflation rates.