It is a big week for the U.S. economy with several job reports on tap along with earnings from big retailers and the first restaurant IPO in quite some time which is a blast from the past; Krispy Kreme. Also, another well-known name Legal Zoom will IPO as well.
The U.S. jobs report on Friday will be the main economic event of the coming week, with investors hopeful for signs of improvement in the labour market after two months of slower than expected jobs growth. U.S. employers are expected to have added 650,000 positions in June while the unemployment rate dipped to 5.7%. The second quarter is ending, and market watchers will be looking ahead to the next six months after a strong first half to 2021.
Chicago PMI, Manufacturing PMI, trade, and factory order numbers will be released this week. Barring particularly dire numbers, these stats should have a muted impact on the Dollar.
OPEC+ meets on Thursday with energy traders anticipating another production increase as the demand outlook continues to recover. Meanwhile, Wednesday’s euro zone inflation data could test the European Central Bank’s resolve to look past short-term price increases.
For the UK this week, updates on COVID-19 and the government’s plans to ease restrictions or to extend will remain the key driver.
This Week’s High Impact Events
The times below are GMT+3.
Monday 28th June
No High Impact Events
Tuesday 29th June
17.00 – US – CB Consumer Confidence
Potential instruments to Trade: USD Crosses.
Wednesday 30th June
04.00 – China – Manufacturing PMI
Potential instruments to Trade: CNY Crosses.
12.00 – Europe – CPI Flash Estimate y/y
Potential instruments to Trade: EUR Crosses.
15.15 – US – ADP Non-Farm Employment Change
Potential instruments to Trade: USD Crosses.
15.30 – Canada – GDP m/m, IPPI m/m, RMPI m/m
Potential instruments to Trade: CAD Crosses.
16.45 – US – Chicago PMI
Potential instruments to Trade: USD Crosses.
17.00 – US – Pending Home Sales m/m
Potential instruments to Trade: USD Crosses.
17.30 – US – Crude Oil Inventories
Potential instruments to Trade: USD & CAD Crosses.
Thursday 1st July
All-Day – OPEC-JMMC Meetings
Potential instruments to Trade: All Crosses.
12.00 – UK – BoE Gov. Bailey Speaks
Potential instruments to Trade: GBP Crosses.
15.30 – US – Unemployment Claims
Potential instruments to Trade: USD Crosses.
17.00 – US – ISM Manufacturing PMI
Potential instruments to Trade: USD Crosses.
22.00 – UK – BoE Gov. Bailey Speaks
Potential instruments to Trade: GBP Crosses.
Friday 2nd July
15.30 – Europe – ECB President Lagarde Speaks
Potential instruments to Trade: EUR Crosses.
15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, & Unemployment Rate
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