Separate report showed that Spanish CPI in June 2017 is 1.5%. This indicator provides a preview of the CPI that, if confirmed, would imply a decrease of four tenths in its annual rate, given that in May this change was 1.9%. It is worth nothing in this behaviour the decrease in the prices of fuels (diesel and gasoline/petrol), compared to the increase that they experienced last year. This evolution was also due to the increase in prices of electricity, lower than that of June 2016.

In the US session Unemployment Claims and Final GDP data was published. In the week ending June 24, the advance figure for seasonally adjusted initial claims was 244,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 241,000 to 242,000. The 4-week moving average was 242,250, a decrease of 2,750 from the previous week's revised average. The previous week's average was revised up by 250 from 244,750 to 245,000.

Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017, according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent. With the third estimate for the first quarter, personal consumption expenditures (PCE) and exports increased more than previously estimated, but the general picture of economic growth remains the same.

Focus of tomorrow's session will bring CPI figures. Decline to 1.2% is anticipated. In the US session Chicago PMI and Revised Cosumer Sentiment figures will be published. Analysts predict decline to 58.1 in Chicago PMI and no change from prelim reading in consumer sentiment.

Figures to watch:

CPI Flash Estimate (Friday 11:00)

Chicago PMI (Friday 15:45)

Revised UoM Consumer Sentiment (Friday 16:00)