Here is what you need to know about the important news between July 4th 2022 and July 8th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
The dollar indicator continued its upward movement during last week, however after the indications of a lower US growth, the indicator slowed down a bit, remaining at the 104-105 levels for another week.
Us Stocks
Wall street equities, trading in positive momentum, continuing their upward movement. This week is expected to cause some more volatility on US stocks, with the FED Meeting Minutes and the Non-Farm Payrolls to be in focus.
Australian Central Bank
The Reserve Bank of Australia is set to deliver another half percent increase in the Interest Rates, as measure to stop the inflation which is running at a two-decades high levels. The last two meetings, the increase was more than the expectations, driving the lights on this month’s announcement which is expected Tuesday at 04:30 GMT time.
Gold
Economists at ANZ Bank expect the yellow to find support at current levels and move towards 1900 levels. “Rising expectations of aggressive rate hikes and a stronger dollar are headwinds for gold. Still, equity market weakness and ongoing geopolitical uncertainty should support investor demand.”
Oil
“The recession fears are the primary bearish factor that has capped the surge in oil prices. Rising rates and a plunge in consumer confidence have dented the fuel demand outlook, while data shows that the U.S. petroleum refinery capacity has improved,” CMC Markets analyst Tina Teng told Reuters.
Economic calendar most important releases (times are in GMT)
Tuesday, July 05
04:30 –AUD – Cash Rate
04:30 –AUD – RBA Rate Statement
Wednesday, July 06
14:00 –USD – JOLTS Job Openings
18:00 –USD – FOMC Meeting Minutes
Thursday, July 07
12:15 – USD – ADP Non-Farm Employment Change
Friday, July 08
12:30 –CAD – Employment Change
12:30–CAD – Unemployment Rate
12:30–USD – Unemployment Rate
12:30–USD – Non-Farm Payrolls
Thanks for reading! Have a great week!
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