July 29, 2024
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 5.25% but the BoE is expected to cut by 0.25% to 5.00% at this meeting.
Possible Influence: Volatile British Pound and British stocks
OPEC joint ministers will meet to discuss current oil output of the cartel including whether the oil market is balanced or compliance information of cuts from its members. While no change to the current deal is expected at this meeting, OPEC might give hints on future policy.
Possible Influence: Volatile Crude Oil; Brent Oil
ISM Manufacturing PMI previous print was 48.5. The number was lower than the expected 49.2.
Possible influence: Volatile US Dollar, Gold and US Stocks
The 2nd Quarter earnings season continues in August, with Apple, Amazon, Nvidia, Alibaba, Chevron, ExxonMobil, Moderna, and many more to report their Q2 earnings figures by the end of August.
Possible Influence: Volatile US Stocks
The previous month had unemployment at 4.1%. Nonfarm Payrolls for the previous month printed 206,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The RBA will meet to decide on interest rates. The current rate is 4.35%.
Possible Influence: Volatile Australian Dollar
Core CPI (excluding food and energy) was 3.3%, Year-over-Year in June. Top-line CPI for June came in at 3.0%, lower than the expected 3.1%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Month-over-Month Retail Sales was at 0.3% in June, which was higher than expected by the market.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Kamala Harris remains the leading candidate to be nominated as presidential candidate from the Democratic Party at their convention in August. Kamala Harris will be replacing Joseph Biden, who stepped down from the presidential race. Kamala Harris would face Donald Trump, Republican, at the presidential election on November 5, 2024.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The Federal Reserve Bank of Kansas City will again host its annual meeting of central bankers, leaders, academics, and economists from around the world. The participants will discuss economic issues and policy options. The event includes speeches, papers, commentary, and discussions.
Possible Influence: Volatile US Dollar, Gold and US Stocks