#EconomicCalendar #worldnews #forexmarket⠀
💱 Target levels and forecast for the week 29.07. – 02.08. ⠀
Week is overloaded with events: BOJ, Fed, BOE, NFP meetings, and reports from BigTech companies. Geopolitics pressurizes the market with the situation in the Middle East.
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BOJ QE cuts are expected (now ¥6 trillion monthly). A rate correction is unlikely, but the currency needs to be strengthened, so carry trade volume on the yen is declining.
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The Fed will only provide a brief statement. The probability of a rate correction is very low. We may not hear concrete information until the end of August at the Jackson Hole symposium.
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BOE is likely to cut the rate by 0.25%. Bailey's press conference is essential, as there is no indication that further rate cuts will limit the pound's fall.
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NFP is particularly important because whatever Powell says on Wednesday, the speed of Fed rate cuts depends on the extent of the labor market slowdown. Other US economic reports worth watching include JOLTs Job and ISM data.
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No major decisions are expected at Thursday's OPEC+ committee meeting, but the final statement is worth studying.
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Recall the fundamental events that you need to pay attention to (GMT 0 time):
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Tue, 30Reports: AMD, Microsoft, PayPal, Starbucks, BP, P&G, Pfizer
EUR: GDP (09:00)
USD: JOLTs Job Openings (14:00); API Weekly Crude Oil Stock (20:30)
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Wed, 31Reports: Meta, Boeing, Qualcomm
AUD: CPI, Retail Sales (01:30);
EUR: CPI (09:00)
JPY: BoJ Interest Rate Decision (03:00); Press Conference (06:30)
USD: ADP NE Change (12:15); Crude Oil Inventories (+Cushing) (14:30); Fed Interest Rate Decision (18:00); Press Conference (18:30)
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Thu, 01Reports: Amazon, Intel, Moderna, Apple
GBP: BoE Interest Rate Decision (11:00); Bailey Speaks (11:30), (13:15)
USD: Initial Jobless Claims (12:30); ISM Manufacturing PMI, Employment, Prices (14:00)⠀
Fri, 02Reports: ExxonMobil, Chevron
USD: Nonfarm Payrolls (12:30)
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For more news − see Economic Calendar.
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Profits to y’all!