Last week, we saw the ECB and BoE maintained their respective interest rates, while the United States reported a better than expected nonfarm payrolls data. The NFP rose from 175K to 195K, beating expectations that it would drop to 165K. For this week, we have a number of important reports coming from Europe, Japan, and Australia. Check out the events for the week of July 8-12:
Event: ECB President Draghi’s Speech – EU
Date: July 8, 2013
Time: 1:30pm (GMT)
What It Is About and Why It’s Important
After announcing its interest rate decision last week, it is worth looking into the ECB’s outlook on the economy. Any positive report from Mr Draghi might be able to help boost the euro against the greenback, which took a nosedive last week, partly aided by the positive US NFP data.
Event: Consumer Price Index (MoM & YoY, June) – China
Date: July 9, 2013
Time: 1:30am (GMT)
What It Is About and Why It’s Important
Those trading the AUD should not miss this announcement from China. Since Australia’s economy is closely connected with China’s, any positive economic news from the Asian giant could help boost the aussie, which has struggled against the greenback for the past several months.
Event: New Loans (June) – China
Date: July 10, 2013
Time: 2:00am (GMT)
What It Is About and Why It’s Important
China’s new loans data is expected to have risen in June from the previous Y667.4B to Y800.0B. Again, another data that needs to be closely monitored by aussie traders.
Event: FOMC Minutes – US
Date: July 10, 2013
Time: 6:00pm (GMT)
What It Is About and Why It’s Important
With the torrent of positive economic data from the US, it’s also worth looking into the report from the Federal Open Market Committee as this would provide essential indicators on the US interest rate policy.
Event: Employment Change s.a./Unemployment Rate s.a. (June) – Australia
Date: July 11, 2013
Time: 1:30am (GMT)
What It Is About and Why It’s Important
Australia has struggled with unemployment over the past few months. From a 45K increase in April, it fell to 1.10K in May, and is expected to fall to -2.5K in June. Its unemployment rate is also expected to rise slightly from 5.5% to 5.6%.
Event: BoJ Interest Rate Decision/Monetary Policy Statement – Japan
Date: July 11, 2013
Time: 3:00am (GMT)
What It Is About and Why It’s Important
As with interest rate decisions of other countries, Japan’s will help provide traders with an insight on the country’s outlook of the economy. It’s an important tool in assessing how to trade the yen in the coming months.
Event: ECB Monthly Report – EU
Date: July 11, 2013
Time: 8:00am (GMT)
What It Is About and Why It’s Important
For a detailed insight on Europe’s economy, this report from the ECB will be an essential research aid. The report contains information such as analysis of the current economic condition and risks on price stability.
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