The Australian Reserve leads this week’s events

Markets are awaiting US labor market numbers

Separate economic

data After the statements of US Federal Reserve Chairman Jerome Powell, inflation figures in consumer spending, growth from the United States of America, inflation from Australia and Canada, in addition to some separate numbers, topped the events of last week, the financial markets return in a new week and new economic figures that will cast a shadow over the trading of the current week, topped by the meeting of the Reserve Bank meeting Australian, US Labor Market figures, Federal Reserve minutes, and many more scattered economic figures.

RBA meeting Tomorrow, Tuesday,

the Reserve Bank of Australia will meet in the Asian session to discuss developments in cash policy and set interest rates, as expectations indicate that the bank will keep the current interest rates at 4.10% unchanged.

The figures issued for inflation in Australia last week from the Australian Institute of Statistics (ABS) showed that the consumer price index, which measures inflation in Australia, rose by 5.6% on an annual basis in May, compared to 6.8% in April, to come below expectations that indicated a rise to 6.1%.

On the other hand, the index excluded from it rose. Prices of accepted commodities such as fruits, vegetables, motor fuels and travel rose to 6.4% from 6.5% in April.

In the previous meeting of the Bank, the members stressed that there may be a need for more tightening in monetary policy to ensure that inflation returns to the target, but it depends on how the data develops, and therefore, with inflation slowing to 5.6% in May, the lowest reading since April 2022, the expectations of markets and analysts converge between those in favor of stopping About raising interest rates and between raising them by 25 basis points, and therefore it is not expected that the markets will be surprised if the bank decides to raise interest rates by 25 basis points tomorrow, Tuesday.

United States of America

Friday, at the end of this week’s trading, the markets are awaiting the employment numbers in the non-farm sector from the United States of America, known as the NFP, preceded by the employment numbers in the private sector in the middle of the week, the vacancies index, the labor turnover rate, and the weekly unemployment benefits.

The economy is expected to announce the addition of about 220,000 jobs in May, compared to the addition of 339,000 jobs in April, while the unemployment rate is expected to decline to 3.6% and the wage rate to stabilize at 0.3%.

In addition to the labor market numbers, we will follow during the week the manufacturing numbers issued by ISM this evening, amid expectations that the manufacturing sector will continue in the contraction zone below the 50 levels in June, while the services index is expected to be announced next Thursday. We will also hear statements from the US Fed members Williams and Logan during the hot week.

The US Federal Reserve’s minutes of its previous meeting two weeks ago will be announced on Wednesday evening to give a more clear picture of what happened in the meeting, which did not witness a change in interest rates for the first time after ten meetings, while the members’ expectations for the peak interest rates were raised to 5.6% during the current year.

Euro-zone

From the eurozone, and after the inflation figures issued last week, we will follow up at the beginning of this week the final reading of the PMI for the services and manufacturing sectors, in addition to the statements of European Central Bank President Christine Lagarde at the end of this week’s trading.

Inflation in Switzerland is at 0.1%.

The Consumer Price Index (CPI), which measures inflation in Switzerland, rose by 0.1% in June, compared to 0.3% in May, according to FSO figures, to come below expectations, which indicated a growth of 0.2%, while the index recorded a growth of 1.7% on an annual basis.

. Separate economic data

Monday

Manufacturing PMI from Japan, China, the Eurozone and the United Kingdom

Inflation from Switzerland

US manufacturing index

Tuesday

Reserve Bank of Australia meeting

German trade balance

Canadian manufacturing index

Wednesday

Services Index of China, Eurozone and United Kingdom

OPEC meeting

US Factory Orders

US Federal Reserve

Thursday

German factory orders

Eurozone retail sales

Employment in the US private sector

US weekly unemployment

benefits US

Services Index

job opportunities

Friday

German industrial production

Statements by the Governor of the Bank of England

Labor market figures from Canada

US Labor Market Figures