European Economic News Preview: German Business Sentiment Data Due

(RTTNews) - Business confidence from Germany and retail sales from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales data for June. Sales are forecast to grow 1.2 percent month-on-month in June, in contrast to the 2.7 percent decrease in May.

At 2.45 am ET, France's statistical office INSEE is scheduled to release consumer sentiment survey results. The confidence indicator is seen unchanged at 88 in July.

At 4.00 am ET, Germany's ifo business confidence survey data is due. The business confidence index is forecast to rise to 89.0 in July from 88.4 in the previous month.

In the meantime, the European Central Bank publishes monetary aggregates for June. M3 is forecast to grow 3.7 percent on a yearly basis, slower than the 3.9 percent rise in May.

At 6.30 am ET, Russia's central bank announces its monetary policy decision. Economists expect the bank to cut its rate sharply to 18.00 percent from 20.0 percent.