Weekly Outlook: 2016, July 03 - July 10
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, 07-03-2016 at 03:37 PM (921 Views)
Markets continued to wobble in the post-Brexit week, with recoveries seen in many currencies. The first full week of July features the buildup to the US Non-Farm Payrolls, the Fed’s meeting minutes and key speeches among other events. These are the market movers on forex calendar.
- Australian rate decision: Tuesday, 4:30. Economists still expect the RBA’s move will be postponed to a later date such as June 2017.
- Mark Carney speaks: Tuesday, 9:30. BOE Governor Mark Carney is due to speak in London about the Financial Stability Report. Carney will probably address the Brexit issue and may provide clues as to the BoE’s next steps. Market volatility is expected.
- ISM Non-Manufacturing PMI: Wednesday, 14:00. US non-manufacturing PMI is expected to climb to 53.5 this time.
- US FOMC Meeting Minutes: Wednesday, 18:00. These are minutes from the Fed’s decision in June, in which it was mostly dovish. No rate hike are on the cards in the next year or so following the latest developments.
- Haruhiko Kuroda speaks: Thursday, 0:30. BOJ Governor Haruhiko Kuroda will give a speech in Tokyo.
- US ADP Non-Farm Employment Change: Thursday, 12:15. The ADP figures come before the U.S. Labor Department’s major non-farm payrolls report, which includes both public and private-sector employment. ADP non-farm payrolls is expected to reach 151,000 in June.
- US Unemployment Claims: Thursday, 12:30. The number of new claims is expected to reach 272,000 this week.
- US Crude Oil Inventories: Thursday, 15:00.
- Canadian employment data: Friday, 12:30. Canadian labor market is expected to expand by 6,900 positions while the unemployment rate is estimated at 7.0%.
- US Non-Farm Payrolls: Friday, 12:30. US monthly jobs report for June is forecast to show a 181,000 jobs gain, while the unemployment rate is estimated to rise to 4.8%.
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