Weekly Outlook: 2017, July 09 - July 16

Weekly Outlook: 2017, July 09 - July 16

The US dollar recovered across the board in a busy start to the second half of the year. Apart from further reactions to the NFP, we have all-important inflation, consumption data, and Janet Yellen’s testimony.

1. US JOLTS Job Openings: Tuesday, 14:00. The Fed has highlighted this report in the past, giving it importance despite the lag.
2. UK jobs report: Wednesday, 8:30. In May, jobless claims, known as Claimant Count Change, rose by a worrying 7.3K.
3. Janet Yellen testifies Wednesday and Thursday at 14:00. The Fed Chair meets lawmakers and she will undoubtedly talk about the economy. Yellen will then repeat the same statement on Thursday with another set of Q&A. Market impact will likely be stronger on Wednesday.
4. Canadian rate decision: Wednesday, 14:00.
5. Crude oil inventories: Wednesday, 14:30.
6. US PPI: Thursday, 12:30. Core PPI rose by 0.3%, beating expectations.
7. US CPI: Friday, 12:30. Inflation is falling, but the Fed calls it transitory, due to one-off factors.
8. US Retail Sales: Friday, 12:30.
9. US industrial output: Friday, 13:15.
10. US consumer confidence: Friday, 14:00.

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