ADP Non-Farm Employment Change in the US and GDP in Canada are the main events today. Here is an outlook on the market-movers awaiting us
In the US, Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change, Estimation of the employed people (not including farming industry and government) over the previous month, 179K is likely now from 188K on the last report.
Later in the US, Employment Cost Index, consumer inflation indicator to value businesses and government price change for civilian labor, rise of 0.1% is likely up to 0.4% from the last quarter.
Later on in the US, Advance Gross Domestic Product (GDP), quarterly report to value of all goods and services produced by the economy, reduce from 1.8% down to 1.1% is expected now. And on the Advance GDP Price Index 1.1% is due from 1.2% on the last time.
More in the US, Federal Open Market Committee (FOMC) Statement, FOMC primary tool uses to communicate with investors on monetary policy and discusses the economic outlook. While on the Federal Funds Rate no change is forecasted and 0.25% is due to remain similar to the last time.
Also in the US, Chicago Purchasing Managers’ Index (PMI), Monthly Survey in Chicago to value the business conditions like employment, new orders, supplier and inventories, 53.7 points are due now from 51.6 point on June.
Finally in the US, Crude Oil Inventories, -2.1M is likely now from -2.8M on the past week.
In Canada, Gross Domestic Product (GDP), the broadest measurement to value of all goods and services produced by the economy, rise up to 0.2% from 0.1% on June is calculated this time.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Unemployment Rate, value by percentage all the unemployed that are looking for juobs over the previous month, rise of 0.1% is likely up to 12.2%.
Later in Europe, Consumer Price Index (CPI) Flash Estimate, value the consumers’ price change of goods and services, 1.6% is due now with no change from the last report.
Finally in Europe, Spanish Manufacturing, Purchasing Managers’ Index (PMI), Business Conditions Survey to rate level of production, prices, and inventories, rise up to 50.7 points are is likely from 50 points on the last time.
For more on the Euro, read the Euro to dollar forecast.
In Great Britain, Halifax House Price Index (HPI), the homes that are financed by Halifax Bank of Scotland (HBOS price change, reduce down to 0.3% from 0.6% on the last month is likely.
Read more about the Pound in the GBP/USD forecast.
In Australia, Import Prices, the price change of goods purchased by importers, rise up to 1.9% is expected now.
Later in Australia, Housing Industry Association (HIA) New Home Sales, value the newly constructed homes sold, 1.6% is due similar to the last report.
For more on the Aussie, read the AUD/USD forecast.
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