We shall open the second half of the year with a number of interest rate decisions from Australia, Europe, and the United Kingdom, unemployment data from Canada and the United States, CPI data from the EU, and the Nonfarm Payrolls numbers from the United States. Check out the details of the events for this week of July 1-5:
Event: CPI & Core CPI (YoY, June) – EU
Date: July 1, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
Analysts expect a very slight improvement in the EU’s Consumer Price Index (CPI) number, going up from 1.4% from the previous month to 1.5% in June. Meanwhile, the EU’s current Core CPI number is at 1.2%.
Event: RBA Interest Rate Decision – Australia
Date: July 2, 2013
Time: 4:30am (GMT)
What It Is About and Why It’s Important
After announcing a 25bps cash rate cut in May, analysts expect another round of 25bps cut before the year ends. We shall find out if it happens this month or if the Reserve Bank decides to maintain it at 2.75% for now.
Event: BoE Interest Rate Decision – United Kingdom
Date: July 4, 2013
Time: 11:00am (GMT)
What It Is About and Why It’s Important
A day after Australia’s interest rate decision comes the report from the UK. While there are no indicators of any change in the UK’s interest rate, it would be interesting to find out what the Bank of England’s outlook of the economy is in the coming months.
Event: ECB Interest Rate Decision – EU
Date: July 4, 2013
Time: 11:45am (GMT)
What It Is About and Why It’s Important
Less than an hour after the UK’s interest rate decision follows the interest rate announcement from the European Central Bank. As with the UK’s interest rate, the ECB is not expected to cut or increase rates in the meantime. However, those trading the EUR could find clues on the ECB’s outlook of the economy during the press conference that follows the announcement.
Event: Net Change in Employment/Unemployment Rate (June) – Canada
Date: July 5, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
After a slight rise in April, Canada’s unemployment rate fell to 7.1% in May. Analysts expect it to remain steady in June.
Event: Nonfarm Payrolls (June) – United States
Date: July 5, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
Probably one of the most anticipated reports from the US, the nonfarm payrolls is known for its extreme volatility. For June, analysts see the numbers fall from the previous 175K to 170K.
Event: Unemployment Rate (June) – United States
Date: July 5, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
The US Department of Labor is also set to announce the US Unemployment Rate on Friday. From the current 7.6%, analysts expect it to drop slightly to 7.5%.
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