Welcome to the Investors Trading Academy economic
calendar of the week. Each week our news analysts review the upcoming economic events that you
should be monitoring. Rate decision in the UK and Canada, Employment data in the US and
in Australia, US Producer Prices, Inflation data, Retail sales, Consumer Sentiment. These
are the main market movers on forex calendar. Join us as we explore the highlights of this
week. Last week, U.S. monthly non-farm payrolls
release surprised markets with a robust job gain of 287,000 positions during June, exceeding
forecast of 175,000 jobs increase. The unemployment rate rose higher than expected to 4.9% from
4.7 in May. The subdued payroll’s report in May was revised down even further by 11,000.
However, April’s jobs growth was revised higher from 123,000 to 144,000. In the last
three months, jobs addition has averaged about 147,000 per month. Despite the lukewarm data,
Fed Chair Yellen still spoke positively about the Employment market, saying it may finally
be picking up. This report may also impact Donald Trump’s campaign as most of his support
arrives from districts with high unemployment. Looking ahead, we can finally say with a degree
of certainty that the Bank of England meeting will prove to be an interesting one. Most
City observers would likely give their right arms (and more) to be a fly on the wall in
the room when the Monetary Policy Committee meets this week. Governor Mark Carney has
already signaled that looser monetary policy may well be on the way, and we will get a
clearer indication of whether the MPC is in agreement with him. Also on the list for the
week will be Chinese data, which makes a welcome return. Ongoing yuan devaluation has more
or less escaped the notice of markets, fixated as they have been by Brexit, but it does throw
up some interesting possibilities in the weeks to come.
Equity news begins to build in intensity this week, as US earnings season gets underway.
Once Alcoa has reported on Monday, and everyone has done their level best to read into one
earnings report as much as humanly possible, attention will shift to the US banking sector.
With so many key operations in London, the impact of Brexit will be high on their agenda,
and on that of investors, so aside from domestically-focused Wells Fargo, JPMorgan, Citigroup and others
will all provide plenty to digest. In the UK we get further updates from housebuilders,
after Bovis and Persimmon in the first week of July. The sector remains under pressure
in share price terms, but so far no firm has opted to make much more than a token note
of the Brexit vote. With Burberry, ASOS and SuperGroup on the list for the week as well
it promises to be an interesting time for followers of fashion, but Burberry’s trading
update should contain some references to the impact of a weaker pound, while also providing
color on the state of the Chinese economy.