Quick Overview

• The U.S. Institute of Supply Management's index of services dropped from 47.0 to 46.4 in July
  

• U.S. factory orders rose 0.4% in June.
  

• The U.S. Mortgage Bankers Association said mortgage applications rose 7.2% last week
  

• Germany’s July PMI Services out at 48.1 (48.4 estimate)
  

• EuroZone’s July PMI Services out at 45.7 (45.6 estimate)

• Retail sales in the EU rose 0.1% MoM, but fell 1.7% YoY.
  

• U.K.'s manufacturing output rose 0.4% MoM
  

• Australia's exports rose 2% MoM
  

• The U.S. DOE said:
  Supplies of crude oil rose 1.7 million barrels to 349.5 million barrels.
  Supplies of gasoline fell 200,000 barrels
  Supplies of heating oil fell 300,000 barrels.
  Refinery fell from 84.6% to 84.5%.
  Gasoline demand rose 0.5% YoY
  Distillate demand fell 7.9% YoY.
  
  
  

• (Bloomberg) Sugar imports by India, the world’s largest consumer, may more than triple in the year starting October as dry weather in key growing areas threatens to lower output, the nation’s fourth-biggest producer said. Purchases may surge to 8 million metric tons, up from an estimated 2.5 million tons this year.