mask Dollar holds gains before major economic data

01/ 07/ 2020

Dollar holds gains before major economic data

Daily Update - 7th July 2020

Yesterday’s Market

  • GBP GDP (QoQ) (Q1)
  • EUR CPI (YoY) (Jun)
  • CAD GDP (MoM) (Apr)
  • USD CB Consumer Confidence (Jun)
  • JPY Tankan Large Manufacturers Index (Q2), Tankan Large Non-Manufacturers Index (Q2)
  • CNY Caixin Manufacturing PMI (Jun)

Yesterday’s Explained

The United Kingdom to release the quarterly and yearly GDP report which came out negative  and ndicated the UK economy contracted more than 2% in the first quarter causing the currency to contine it depreciation against major currencies. Consumer Price Index from the Euro Zone was expected to remain unchanged but went up by 0.2% more than expected.

 The Tankan Manufacturing and non-manufacturing Index from Japan for the second quarter contracted as, follow by the Caixin Manufacturing PMI for the month of June which aslo came out positive boosting the confidence of investors

 

Today’s Market

  • Holiday         Hong Kong - Hong Kong Special Administrative Region Establishment             
  • Holiday         Canada - Canada Day
  • Holiday         Russia - Non Trading Day
  • EUR             German Manufacturing PMI (Jun), German Unemployment Change (Jun)
  • GBP             Manufacturing PMI (Jun)
  • USD             ADP Nonfarm Employment Change (Jun), ISM Manufacturing PMI (Jun), Crude Oil Inventories, FOMC Meeting Minutes

Today’s Focus

First up will be German Manufacturing PMI, and German Unemployment Change from the Eurozone. Next will the Manufacturing PMI from the United Kingdom. This will be followed ADP Nonfarm Employment Change, ISM Manufacturing PMI, Crude Oil Inventories and FOMC Meeting Minutes from US.