Let’s uncover the major events that lie ahead for this week that have the potential to bring volatility to the markets.
The United States
The ISM Manufacturing PMI is set to be released by the Institute for Supply Management on Monday, July 3 at 6:00 PM, GMT+4. The market anticipates a rise to 47.2, exceeding the previous figure of 46.9.
The Federal Reserve is scheduled to release its FOMC Meeting Minutes on Wednesday, July 5 at 10:00 PM, GMT+4, expected to provide insights into the economic and financial conditions that influenced their last interest rate decision.
On Thursday, July 6 at 6:00 PM, GMT+4, the ISM Services PMI is set to be released by the Institute for Supply Management. The market forecasts an increase of 51.3, surpassing the previous figure of 50.3.
The JOLTS Job openings is set to be released on Thursday, July 6 at 6:00 PM, GMT+4. The market anticipates a decline of 9.94 M from a previous figure of 10.10 M.
On Friday, July 7 at 4:30 PM, GMT+4, the Non-Farm Employment Change is set to be announced. The market expects a drop of 222K compared to the previous figure of 339K.
On Tuesday, July 4 at 8:30 AM, GMT+4, the Reserve Bank of Australia (RBA) will announce its decision on the Cash Rate along with the RBA Statement. The market expects the RBA to maintain interest rates as is at 4.10%.
OPEC+ meetings will be held throughout the whole day on Wednesday, July 5 discussing issues regarding energy markets and oil production.
The United Kingdom
Bank of England (BOE) Governor Andrew Bailey is scheduled to speak at the Economic Meetings of Aix-En-Provence in France on Friday, July 7 at 11:30 AM, GMT+4. There is a high likelihood that he will provide insights on the UK’s upcoming interest rate decision.
The Unemployment Rate is set to be released by Statistics Canada on Friday, July 7 at 4:30 PM, GMT+4. The market forecasts that the rate will remain as is at 5.2%.
European Central Bank (ECB) President Lagarde will speak at the Economic Meetings of Aix-En-Provence in France on Friday at 8:45 PM, GMT+4. It is anticipated that the speech will provide insights regarding the ECB’s upcoming interest rate decision.
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