Forex: Weekly outlook – Plenty of reports due out today
iNVEZZ.com Monday July 1th:
The June reading of the Markit US Manufacturing Purchasing Managers Index (PMI) Index will be announced just before 14:00 BST today, followed by construction spending data for May, ISM Manufacturing PMI and ISM Prices Paid in June.
Separately, the German and the Eurozone Manufacturing Purchasing Managers Index will be updated by Markit Economics just before 09:00 BST, followed at 10:00 BST by the Eurozone Consumer Price Index and unemployment rate.
The Tankan Large Manufacturing Outlook for the second quarter of 2013 was released during the Asian session today. The rise to 10.0 points beat expectations of 7.0. The Tankan Large Manufacturing Index for Q2 rose by four points, against projections for a fall of six, after the eight-point fall in the previous quarter.
The Tankan Large All Industry Capex for the same period was up 5.5 percent, exceeding estimates of +2.9 percent.
The Non-Manufacturing Index for Q2 came out at 12.0, against of the expected 11.0 points and well above the 6 in Q1. The Non-Manufacturing Outlook in Q2 was lower at 12.0, missing projections of 14.0 points.
Chinese manufacturing data was updated just after midnight BST. The Manufacturing Purchasing Managers Index (PMI) for June, released by the Chinese Federation of Logistics and Purchasing, matched expectations for a reading at 50.1 points, against 50.8 in the previous month. By contrast, June’s HSBC Manufacturing Purchasing Managers Index released by Markit Economics missed the forecast of 48.3 points and came at 48.2, below the 49.2 in May.
In the UK today, the Markit UK Manufacturing PMI is due to be released, followed by consumer credit, M4 money supply, mortgage approvals and net lending to individuals. All these releases are expected just after Mark Carney formally takes the helm at the Bank of England, which is scheduled for 09:00 BST.
The SVME Manufacturing Purchasing Managers Index is due to be released at 08:30 BST.
In Australia today, the University of Melbourne – Faculty of Economics and Commerce released the TD Securities inflation rate index for June. The reading was for 2.4 percent growth y/y, compared to 2.2 in May. M/m, the growth rate is unchanged at0.2 percent.
Today is the Canada Day holiday and banks will be closed.
The Redbook Index for the week ended on June 23 will be reported at 14:00 BST, followed by the ISM Index for the New York area.
Factory orders, economic optimism data and total vehicle sales for June are scheduled for release in Tuesday’s American session.
In Europe, the Producer Price Index for May will be published by Eurostat at 10:00 BST.
Japanese Labour, Cash Earnings and Monetary Base updates are due out early in the Asian session.
The PMI for constructor sector conditions, compiled by the Chartered Institute of Purchasing & Supply and Markit Economics is expected at 09:30 BST.
The British Retail Consortium (BRC) Shop Price Index is scheduled for release at midnight BST.
The Reserve Bank of Australia will have its scheduled meeting, starting at 05:30 BST, to be followed by announcement of its decisions on the benchmark interest rate and publication of the interest rate statement.
First up will be US data, starting with MBA mortgage applications at 12:00 BST. Challenger job cuts and ADP employment change will be updated shortly thereafter.
US jobless claims and US trade balance are due out at 13:30 BST.
The ISM Non-Manufacturing PMI, EIA Crude Oil Stocks Change and EIA Natural Gas Storage Change for June will be released between 15:00 and 17:00 BST.
The Markit PMI Composite Index, Markit Services PMI for June and retail sales data for May, all in relation to the Eurozone, are expected between 09:00 and 10:00 BST.
Halifax UK House Prices, Markit UK Serviced PMI and the Bank of England Credit Conditions survey for the second quarter of 2013 will be updated at 09:30 BST.
The Performance of Services Index compiled by the Australian Industry Group will be released early in the Asian session, followed by Australian new home sales, retail sales data, trade balance and import/export reports for May.
The Chinese Non-Manufacturing PMI will be released at 02:00 BST by the China Federation of Logistics and Purchasing (CFLP), followed by the HSBC China Services PMI from Markit Economics.
Canada’s international merchandise trade data and import/export reports are scheduled for release at 13:30 BST.
This day is July 4 –Independence Day in the United States and a bank holiday.
The European Central Bank will give its latest monetary policy statement in a press conference starting at 13:30 BST, about an hour after announcement of the ECB benchmark interest rate decision.
The Japanese Ministry of Finance will release new foreign bond and stock investments numbers, which will be followed by Bank of Japan governor Haruhiko Kuroda giving a regular address on monetary policy.
The Bank of England is expected to announce its interest rate decision and latest asset purchase facility.
New building permits for May will be released by the Australian Bureau of Statistics.
US nonfarm payrolls, average hourly and weekly earnings and unemployment rate are expected at 13:30 BST.
The main release will be Germany’s May factory orders, due out at 11:00 BST.
At 08:00 BST, the Swiss National Bank will release data on foreign currency reserves, while the Swiss Federal Statistical Office is expected to announce the latest reading on the Consumer Price Index.
The ANZ prior month job advertisements will be released by ANZ Bank early in the Asian session.
It could be an important day for the Canadian dollar, with net change in employment and the unemployment rate to be reported at 13:30 BST, followed by the Ivey Purchasing Managers Index for June.