FOCUS OF THE WEEK!
Dear traders,
The first week of July promises to be full of news.
The start of the week will be full of statistics on business activity in the manufacturing sector (PMI) of China, Germany, the eurozone, the UK and the USA. Also at the beginning of the week there are employment data in Germany and the eurozone.
On Tuesday, the saturation of the economic calendar will decrease, and from the published data the results of the RBA meeting are worth highlighting , which is expected to reduce the key interest rate, and data on business activity in the UK construction sector.
On Wednesday, it is worth to highlight data on the trade balance in Australia, data on business activity in the services sector (PMI): China, the eurozone, the UK and the USA. In the American session the trade balance of the United States and Canada will be published. The day can be considered short due to the early close of US trading.
On Thursday, US trading floors will be closed – Independence Day. Therefore, closer to the American session, we can expect a decrease in activity. On this day, it is worth highlighting the data on retail sales in Australia and the Eurozone and inflation in Switzerland.
On Friday, market activity will resume to normal levels. The main event of the day and week will be the publication of an employment data in the United States. Expectations for which remain very positive after a significant slowdown in the US labor market a month earlier.
Of the fundamental factors, the results of the US – China trade talks are worth highlighting, which will influence the market early in the week after the G20 summit. Also during the week there will be a meeting of OPEC +, which will have a significant impact on the oil market.
The calendar of corporate reporting in the week will be almost empty. (Anton Hanzenko)
Have a good trading week!
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