Monday, 5 August 2024
Holiday
Canada – Civic Holiday
(GMT -4) Est Time: 09:45
Importance: High
Services PMI (Jul)
| Actual | |
| Forecast | 56.0 |
| Previous | 55.3 |
Currency: USD
Source Of Report:
Markit (Release URL)
The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies. The surveys cover transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants.
An index level of 50 denotes no change since the previous month, while a level above 50 signals an improvement, and below 50 indicates a deterioration. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 10:00
Importance: High
ISM Non-Manufacturing PMI
| Actual | |
| Forecast | 51.4 |
| Previous | 48.8 |
Currency: USD
Source Of Report:
Institute for Supply Management (Release URL)
The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) (also known as the ISM Services PMI) report on Business, is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries.
The NMI is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries.
A reading above 50 percent indicates the non-manufacturing sector economy is generally expanding; below 50 percent indicates the non-manufacturing sector is generally contracting. Given the large proportion of the US economy engaged in the services sector, this report offers insights into the health of the overall US economy.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 10:00
Importance: High
ISM Non-Manufacturing Prices
| Actual | |
| Forecast | |
| Previous | 56.3 |
Currency: USD
Source Of Report:
Institute for Supply Management (Release URL)
The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI) (also known as the ISM Services PMI) report on Business, is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries.
The Prices Paid subcategory is a diffusion index calculated by adding the percent of responses indicating they paid more for inputs plus one-half of those responding that they paid the same for inputs. The resulting single index number is then seasonally adjusted.
The Prices Paid diffusion index is one of a number of indicators pointing to the degree of inflationary pressures in the economy.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Tuesday, 6 August 2024
(GMT -4) Est Time: 00:30
Importance: High
RBA Interest Rate Decision
| Actual | |
| Forecast | 4.35% |
| Previous | 4.35% |
Currency: AUD
Source Of Report:
Reserve Bank of Australia (Release URL)
The Reserve Bank of Australia (RBA) reports its decision on where to set the benchmark interest rate. As short term interest rates are an important determinant of currency valuation, traders watch interest rate changes closely.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.
Wednesday, 7 August 2024
(GMT -4) Est Time: 10:30
Importance: High
Crude Oil Inventories
| Actual | |
| Forecast | |
| Previous | -3.436M |
Currency: USD
Source Of Report:
Energy Information Administration (Release URL)
The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.
(GMT -4) Est Time: 13:00
Importance: High
10-Year Note Auction
| Actual | |
| Forecast | |
| Previous | 4.276% |
Currency: USD
Source Of Report:
US Department of Treasury (Release URL)
The figures displayed in the calendar represent the yield on the Treasury Note auctioned.
U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
Thursday, 8 August 2024
(GMT -4) Est Time: 8:30
Importance: High
Initial Jobless Claims
| Actual | |
| Forecast | 245K |
| Previous | 249k |
Currency: USD
Source Of Report:
Department of Labor (Release URL)
Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.
(GMT -4) Est Time: 13:01
Importance: High
30-Year Bond Auction
| Actual | |
| Forecast | |
| Previous | 4.405% |
Currency: USD
Source Of Report:
US Department of Treasury (Release URL)
The figures displayed in the calendar represent the yield on the Treasury Bond auctioned.
U.S. Treasury Bonds have maturities from ten up to 30 years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bond represents the return an investor will receive by holding the bond for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
Friday, August 9, 2024
Holiday
South Africa – Women’s Day
Holiday
Singapore – National Day
(GMT -4) Est Time: 02:00
Importance: High
German CPI (MoM)
| Actual | |
| Forecast | 0.3% |
| Previous | 0.3% |
Currency: EUR
Source Of Report:
Federal Statistical Office Germany (Release URL)
The Unemployment Rate measures the percentage of the total work force that is not working, yet actively seeking employment.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.
Follow. Like. Share.
The post Economic Week Ahead: August 4-10, 2024 appeared first on Ox Securities.
