July 1, 2024
ISM Manufacturing PMI previous print was 49.2. The number was lower than the expected 50.0.
Possible influence: Volatile US Dollar, Gold and US Stocks
A General Election will be held with the current conservative government led by Prime Minister Sunak facing the Labour Party’s Keir Stamer. The Labour Party is expected to win with a comfortable majority in parliament.
Possible influence: Volatile GBP and Gold
Final Round of surprise French parliamentary elections called by President Macron. The eurosceptic National Front is likely to be the largest party and Macron’s party may have significant losses.
Possible influence: Volatile EUR and Gold
The previous month had unemployment at 4.0%. Nonfarm Payrolls for the previous month printed 275,000.
Possible Influence: Volatile US Dollar, Gold
Core CPI (excluding food and energy) was 3.4%, Year-over-Year in May. Top-line CPI for May came in at 3.3%, lower than the expected 3.4%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Possible Influence: Volatile Broadcom stock and US stocks
Month-over-Month Retail Sales was at 0.1% in May, which was lower than expected by the market.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The European Central Bank will meet to discuss interest rates. Rates are currently at 4.25% after a rate cut of 25 basis points last month. Rates are expected to remain unchanged.
Possible Influence: Volatile Euro and European Stocks
The Bank of Canada will meet to set interest rates. They are currently 4.75% after the bank cut interest rates in June by 25 basis points.
Possible Influence: Volatile Canadian Dollar and Canadian Stocks
The Bank of Japan will meet to set its interest rates. In March the bank increased rates by 10 basis points to 0.10%, the first increase since 2016.
Possible Influence: Volatile Japanese Yen
The US Federal Open Market Committee of the U.S Federal Reserve will conclude its 2-day meeting to decide on interest rates. The current rate is 5.5%. Analysts expect the rate to remain unchanged at this meeting.
Possible Influence: Volatile US Dollar, Stocks, Gold
The 2nd Quarter earnings season kicks off in July with major banks like JP Morgan (July 12th) and Goldman Sachs (July 15th) declaring. Giants such as Tesla (July 23th) and Netflix (July 18th) are among the first major companies to declare their results. Microsoft and Apple expect to announce results on July 23rd and July 24th respectively. Amazon will post on July 25th.
Possible Influence: Volatile US Stocks