mask Week Ahead | Stats, Geopolitics, and COVID-19 to Drive the Majors

06/ 07/ 2020

Week Ahead | Stats, Geopolitics, and COVID-19 to Drive the Majors

6th July 2020 - 10th July 2020

Monday

  • Construction PMI (Jun)

  • ISM Non-Manufacturing PMI (Jun)

In the afternoon session United Kingdom will be releasing the construction purchasing mangers index data. A higher figure could greenback the GBP on a shorter run. Also USA shall be releasing the Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers' Index data which is also an awaited data from the USA.

 

Tuesday

  • RBA Interest Rate Decision (Jul)
  • RBA Rate Statement
  • JOLTs Job Openings (May)
  • Ivey PMI (Jun)

Morning session of the day the Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. This is a major factor which indicates the movement for the AUD in the short run! Which shall be backed by the Reserve Bank of Australia’s (RBA) monthly rate statement contains the outcome of bank’s interest rate decision and discusses the economic conditions that influenced the decision?

By evening session of the day the United States shall be releasing the JOLTs Job Openings data for the month of my which is a survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses' employment, job openings, recruitment, hires and separations.

Then follows the Canadian Ivey Purchasing Managers Index which measures the activity level of purchasing managers in Canada. A reading above 50 indicates expansion; a reading below 50 indicates contraction

 

Wednesday

  • BoE MPC Treasury Committee Hearings                                       
  • Crude Oil Inventories

Day will be moderate as Bank of England Monetary Policy Committee Treasury Committee Hearings where the members testify before Parliament's Treasury Committee. The hearings are a few hours in length and can create market volatility for the duration. This shall be followed by the US Crude Oil Inventories data. The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms

 

Thursday

  • Initial Jobless Claims

Initial Jobless Claims shall be released in the afternoon session which measures the number of individuals who filed for unemployment insurance for the first time during the past week. This data could create high volatility in the short run.

 

Friday

  • PPI (MoM) (Jun)
  • Employment Change (Jun)

The USA shall be releasing the Producer Price Index which measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Followed by the Canadian Employment Change data.