A quick look at last week’s events

Australian Bank and Bank of England major events

US labor market numbers come back to the fore

Miscellaneous data we will follow up A quick look at the main events of the past week By the end of last week

, the markets concluded the month of July, which witnessed the meeting of the largest central banks of the year, the US Federal Reserve, which raised interest rates as well as expectations by 75 basis points, after the Fed, eyes turned to US growth figures (fayezalajmi-4x.com).

One of the most important events that the markets followed in the past week is the GDP numbers or growth of the largest economy in the world, which entered the phase of technical recession in the second quarter. The US economy enters the phase of economic recession technically (fayezalajmi-4x.com).

We closed the week with Eurozone inflation figures exceeding expectations Eurozone inflation exceeding expectations in July (fayezalajmi-4x.com) and PCE inflation figures in the USA, the Fed’s preferred PCE inflation indicator rising and the dollar trimming its losses (fayezalajmi-4x.com) .

The general index of the US dollar recorded weekly declines for the second week in a row, by 0.70%, when it closed at 105.80 levels, and is trading on Monday morning at 105.65 levels.

During this week’s sessions, attention is focused on many scattered economic data, on top of which are the numbers of the US labor market and manufacturing numbers around the world, in addition to the meeting of the Bank of England and the Reserve Bank of Australia.

Reserve Bank of Australia

Tomorrow, Tuesday, in the Asian session, the monetary policy members of the Reserve Bank of Australia will meet to discuss monetary policy developments and interest rates, as expectations indicate that the bank will continue its policy and raise interest rates by 50 basis points at its meeting tomorrow for the third time in a row to reach 1.85% compared to 1.35% Currently .

The minutes of the previous meeting of the Bank, two weeks ago, showed a stronger militancy than the previous one, stressing that the bank will fight inflation, which reached its highest level in 21 years (6.1%) in the second quarter on an annual basis with all it has, which raised markets expectations that interest rates would reach 3% by the end of the year Which means a 50 basis point increase today and in September.

The bank’s interest statement is not expected to include many details, as the bank will announce the quarterly statement on monetary policy and its expectations for growth and inflation by the end of Friday.

Bank of England

The Bank of England meets Thursday at the end of the week to discuss monetary policy developments and raise interest rates, as attention is directed towards the largest increase that the market will witness to interest in England in a quarter of a century by 50 basis points to reach 1.75% compared to 1.25% currently.

The Bank of England has raised interest rates 5 times in a row since December, but they have been limited to only 25 basis points each time, but the Bank has come under pressure with inflation rising to a 40-year high of 9.4% y/y in June and expectations that it will rise to 11%.

During the rest of the year, the bank may be forced to take a different step and raise interest rates by 50 basis points at this week’s meeting. According to the statements of the members of the bank and the president of the bank, Andrew Bailey, that the bank is committed to taking strong steps if the inflation continues to rise, the markets started to raise the price by 50 basis points in August, and the percentage reached 70%, while 30% believe that the bank will continue to raise by 25 points.

The bank’s meeting this week is also expected to include the bank’s details on the disposal of the £895 billion bond purchases made by the bank in recent years

. US labor market numbers come back to the fore

After the US economy entered a technical recession last week, with the decline in GDP growth for two consecutive quarters, the economic figures, similar to the labor market figures, will be of interest to the markets in the coming period. Estimates indicate that about 250 thousand jobs were added in July from the 372,000 added by the US economy in June, while the unemployment rate is expected to stabilize at 3.6%.

The US Federal Reserve indicated in its last meeting that its monetary policy for the remainder of the year will be subject to the economic data released, and this is also an additional factor that reflects the importance of the employment data for the month of July.

Miscellaneous data that we will follow during the week

Today, Monday, the Australian, Swiss and Canadian markets will be closed, while we will follow in the European session the retail sales from Germany, the PMI manufacturing index and the unemployment rate from the eurozone. In the American session, the ISM manufacturing reading for PMI in the United States of America will be released.

Tomorrow, Tuesday, we will watch the meeting of the Reserve Bank of Australia in the Asian session, in the American session we will monitor the vacancy rate from the United States.

Wednesday, we will monitor the New Zealand labor market quarterly numbers (unemployment and employment rate) in addition to Fed member Bullard’s statements and Australian retail sales, in the European session, inflation numbers will be released from Switzerland, PMI services and retail sales from the eurozone, ISM services index issued by PMI from the United States of America will be announced About him in the American session.

Thursday in the European period, we will follow the German factory orders, while the Bank of England meeting leads the events. In the American period, the weekly unemployment benefits will be announced, in addition to the statements of US Federal Reserve member Meister.

The last sessions of the week Friday, the US and Canadian labor market numbers topped the events in the American session You can follow the events and economic data and know their dates on the link