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Forex Weekly Outlook: July 3 - July 7

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  • Forex Weekly Outlook: July 3 - July 7

    Asia: The Caixin manufacturing PMI for June is due for release as of 01:45 GMT, with analysts forecasting a 49.5 reading from a previous 49.6.

    Europe: Markit Economics will present manufacturing PMIs for June in Germany, the Eurozone and the United Kingdom as of 07:55 GMT, 08:00 GMT and 08:30 GMT. Expectations currently stand at 59.3, 57.3 and 56.4 respectively. EU’s unemployment rate for May is expected to tick down to 9.2 percent at 09:00 GMT.

    United States: Manufacturing PMI is scheduled at 13:45 GMT, while ISM manufacturing PMI will be out fifteen minutes later. Markets will close earlier than usual due to the Independence Day.

    Tuesday

    Asia: Japan’s auction of 10-year bonds is set for 03:45 GMT.

    United States: Closed - Independence Day

    Europe: The UK construction PMI for June will be published as of 08:30 GMT.

    Wednesday

    Asia: Caixin services PMI will be presented as of 01:45 GMT.

    Europe: Services PMIs for June in Germany, the Eurozone and the United Kingdom will be out at 07:55 GMT, 08:00 GMT and 08:30 GMT. Also, euro retail sales are scheduled for release at 09:00 GMT, with a 0.3 percent eyed.

    United States: Factory orders are due at 14:00 GMT, although the main focus will be at the release of last minutes from the Federal Open Market Committee at 18:00 GMT.

    Thursday

    Europe: Germany’s factory orders are due at 06:00 GMT, with a forecasted 1.8 percent build. The European Central Bank will publish its Account of Monetary Policy Meeting at 11:30 GMT.

    United States: ADP nonfarm employment for June is scheduled at 12:15 GMT, followed by trade balance data at 12:30 GMT. Services PMI will be out at 13:45 GMT and fifteen minutes later the non-manufacturing ISM PMI will be presented. The Energy Information Administration will publish its weekly crude inventories report at 14:00 GMT.

    Friday

    Europe: German industrial production for May is due at 06:00 GMT, with 0.3 percent build. UK Halifax house price index will be out at 07:30 GMT. British manufacturing and industrial production are set for release at 08:30 GMT.

    United States: Average hourly earnings, nonfarm payrolls, participation rate and unemployment rate are all set for release as of 12:30 GMT. Analysts predict a 183,000 jobs build and the unemployment rate to hold steady at 4.3 percent.
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