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The Week Ahead: 3rd – 7th July 2023

Overview for the Week Ahead

Swiss data on Monday will reveal if inflation slowed below the 2% ceiling targeted by the central bank.

A quiet week in the UK features little on the calendar other than an appearance by Bank of England official Catherine Mann on Friday.

Upcoming results for the US labour market are projected to show more moderate yet still healthy job growth, a historically low unemployment rate, cooler wage gains and fewer vacancies.

The jobs report will be front and centre in a holiday-shortened week, with economists forecasting non-farm payrolls increased by 225,000 in June. While still considered generally strong, it would be one of the smallest advances since the end of 2020.

Germany, Europe’s biggest economy, will be in the spotlight as reports show how the industrial machine that motors it fared in May.

Exports on Tuesday, factory orders on Thursday and industrial production on Friday may illustrate the extent to which a recession earlier this year still overhangs growth prospects.

With German inflation having re-accelerated in June, helping to drive an underlying measure higher in the wider euro region, European Central Bank officials are moving toward a rate increase in July that could well be followed up with further action.

Have your trading charts ready for a very busy week!

This Week’s High Impact Events

The times below are GMT +3.

Monday 3rd July

  • 09.30 – Switzerland – CPI m/m

Potential instruments to Trade: CHF Crosses. 

  • 17.00 – US – ISM Manufacturing PMI

Potential instruments to Trade: USD Crosses. 

Tuesday 4th July

  • 07.30 – Australia – Cash Rate, RBA Rate Statement

Potential instruments to Trade: AUD Crosses. 

Wednesday 5th July

  • All-Day – OPEC Meetings

Potential instruments to Trade: All Crosses. 

  • 21.00 – US – FOMC Meeting Minutes

Potential instruments to Trade: USD Crosses. 

Thursday 6th July

  • 15.15 – US – ADP Non-Farm Employment Change

Potential instruments to Trade: USD Crosses. 

  • 15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – ISM Services PMI, JOLTS Job Openings

Potential instruments to Trade: USD Crosses. 

Friday 7th July

  • 10.30 – UK – BoE Gov Bailey Speaks

Potential instruments to Trade: GBP Crosses. 

  • 15.30 – Canada – Employment Change, Unemployment Rate

Potential instruments to Trade: CAD Crosses. 

  • 15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate

Potential instruments to Trade: USD Crosses. 

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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