July 30 – August 4, 2023 Economic report and policy meetings
July 30
Australia: Housing Credit (MoM) – June
China: NBS Manufacturing Purchasing Managers Index (PMI) – July, NBS Non-Manufacturing PMI – July
Euro-Zone: Germany: Retail Sales (YoY) – June
Japan: Industrial Production (YoY) Preliminary – June, Retail Sales (YoY) – June, Consumer Confidence – July, Housing Starts (YoY) – June
Netherlands: Inflation Rate (YoY) Preliminary - July
New Zealand: ANZ Business Confidence – July
July 31
Australia: Judo Bank Manufacturing Purchasing Managers Index (PMI) Final – July, Building Permits (MoM) Preliminary – June, Home Loans (MoM) – June, Investment Lending for Homes – June, Reserve Bank of Australia (RBA) Interest Rate Decision
Euro-Zone: Core Inflation Rate (YoY) Flash – July, GDP Growth Rate (QoQ) Flash – 2nd Qtr., GDP Growth Rate (YoY) Flash – 2nd Qtr., Inflation Rate (MoM) Flash – July, Inflation Rate (YoY) Flash – July, Italy: GDP Growth Rate (YoY) Advance – 2nd Qtr., GDP Growth Rate (QoQ) Advance – 2nd Qtr., Italy: Inflation Rate (YoY) Preliminary – July, Inflation Rate (MoM) Preliminary - July
Hong Kong: GDP Growth Rate (QoQ) Advance – 2nd Qtr., GDP Growth Rate (YoY) Advance – 2nd Qtr.
Japan: Unemployment Rate – June
India: S&P Global Manufacturing Purchasing Managers Index (PMI) - July
Indonesia: Inflation Rate (YoY) – July
Mexico: GDP Growth Rate (YoY) Preliminary – 2nd Qtr.
New Zealand: Building Permits (MoM) – June
Poland: Inflation Rate (MoM) Preliminary – July, Inflation Rate (YoY) Preliminary - July
Russia: S&P Global Manufacturing Purchasing Managers Index (PMI) - July
South Africa: Balance of Trade – June
South Korea: Exports (YoY) – July, S&P Global Manufacturing Purchasing Managers Index (PMI) – July
U.K.: Mortgage Approvals – June, Mortgage Lending – June, Nationwide Housing Prices (YoY) – July
U.S.: Dallas Federal Reserve Manufacturing Index - July
August 1
Australia: Ai Group Industry Index – July
Brazil: Industrial Production (MoM) – June, Balance of Trade – July
Canada: S&P Global Manufacturing Purchasing Managers Index (PMI) - July
Euro-Zone: Unemployment Rate – June, HBOC Manufacturing Purchasing Managers Index (PMI) Final – July, Spain: HCOB Manufacturing Purchasing Managers Index (PMI) – July, Italy: HCOB Manufacturing Purchasing Managers Index (PMI) – July, France: HCOB Manufacturing Purchasing Managers Index (PMI) Final – July,
Germany: Unemployment Change – July, Unemployment Rate – July, HCOB Manufacturing Purchasing Managers Index (PMI) Final – July, Unemployed Persons – June, Italy: Unemployment Rate – June
Japan: Bank of Japan (BoJ) Monetary Policy Meeting Minutes
Mexico: Business Confidence – July
New Zealand: Employment Change (QoQ) – 2nd Qtr., Unemployment Rate – 2nd Qtr.
South Korea: Inflation Rate (YoY) – July
U.K.: S&P Global/CIPS Manufacturing Purchasing Managers Index (PMI) - July
U.S.: S&P Global Manufacturing Purchasing Managers Index (PMI) Final – July, Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) – July, Construction Spending (MoM) – June
The Bureau of Labor Statistics (BLS) releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 9.7 million job openings on the last business day of June, slightly less than in May. Federal Reserve Chairman Jerome Powell reiterated this week that “labor demand still substantially exceeds the supply of available workers.”
August 2
Australia: Judo Bank Services Purchasing Managers Index (PMI) Final – July, Balance of Trade - June
Brazil: Interest Rate Decision
China: Caixin Composite Purchasing Managers Index (PMI) – July, Caixin Services PMI - July
Euro-Zone: Spain: Unemployment Change – July, Germany: Balance of Trade – June, Exports (MoM0 - June
Japan: Foreign Bond Investment – July 29th
Russia: Unemployment Rate - June
Switzerland: Consumer Confidence – 3rd Qtr., procure.ch Manufacturing Purchasing Managers Index (PMI) – July, Inflation Rate (YoY) - July
Thailand: Interest Rate Decision
U.S.: ADP Employment Change – July, MBA 30-Year Mortgage Rate (July 28), MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (July 28), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (July 28), Department of Energy (DOE) U.S. Crude Oil Inventories (July 28), DOE Cushing OK Crude Inventory (July 28), DOE U.S. Gasoline Inventories (July 28), DOE U.S. Distillate Inventory (July 28), DOE U.S. Refinery Utilization (July 28), DOE Crude Oil Implied Demand (July 28), Gasoline Implied Demand (July 28), Distillate Implied Demand (July 28), API Crude Oil Stock Change (July 28), EIA Natural Gas Stocks Change – July 28
August 3
Australia: Reserve Bank of Australia (RBA) Statement on Monetary Policy
Brazil: S&P Global Services Purchasing Managers Index (PMI) - July
Euro-Zone: HCOB Services Purchasing Managers Index (PMI) Final – July, Spain: HCOB Services Purchasing Managers Index (PMI) – July, Italy: HCOB Services Purchasing Managers Index (PMI) – July, France: HCOB Services PMI Final – July, Germany: HCOB Services PMI Final – July, Italy: Retail Sales (MoM) – June, France: Industrial Production (MoM) - June
Philippines: Inflation Rate (YoY) - July
U.K.: S&P Global/CIPS Services Purchasing Managers Index (PMI) Final – July, Bank of England (BoE) Interest Rate Decision, BoE MPC Vote Cut, BoE MPC Vote Hike, BoE MPC Vote Unchanged, BoE Monetary Policy Report, MPC Meeting Minutes
U.S: S&P Global Composite Purchasing Managers Index (PMI) Final – July, S&P Global Services PMI Final – July, Institute of Supply Management (ISM) Services Purchasing Managers Index (PMI) – July, ISM Services Employment – July, Factory Orders (MoM) – June, Continuing Jobless Claims – July 22, Initial Jobless Claims – July 29
August 4
Canada: Employment Change – July, Unemployment Rate – July, Average Hourly Wages (YoY) – July, Full Time Employment Change – July, Ivey Purchasing Managers Index (PMI) s.a. - July
China: Current Account Preliminary – 2nd Qtr.
Euro-Zone: Retail Sales (YoY) – June, Italy: Industrial Production (MoM) – June, Industrial Production (YoY) - June
U.K.: S&P Global/CIPS Construction Purchasing Managers Index (PMI) - July
U.S.: Non-Farm Payrolls – July, Unemployment Rate – July, Average Hourly Earnings (MoM) – July, Average Hourly Earnings (YoY) – July, Average Weekly Hours – July, Nonfarm Payrolls Private – July, Participation Rate – July, Baker Hughes U.S. Rig Count – August 4th
The BLS releases the jobs report for July. Economists forecast a gain of 200,000 for nonfarm payrolls, 9,000 less than in June. The unemployment rate is expected to remain unchanged at a historically low 3.6%
Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.
This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Capital Markets does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Capital Markets personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Capital Markets, including investment banking personnel.
The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.
