2024-08-05 14:08:00
#EconomicCalendar #worldnews #forexmarket
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Target levels and forecast for the week 05.08. – 09.08. ⠀
The week will begin with geopolitical fears. Despite yesterday's weekend missile attack on Israel, Iran has not yet entered the war. A major attack on Israel is expected August 5-6.
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There are no major economic reports. Pay attention to weekly jobless claims, but since another hurricane is hitting the US, this release may not be as telling. One more report will be decisive before the September meeting.
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Rhetoric will be necessary at the RBA meeting on Tuesday, and it is possible that the accompanying statement will not include any indication of a rate hike.
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Fed members in mass speeches will justify their inaction at the July 31 meeting: they again failed to adjust their inflation and rate forecasts. The market is unlikely to react to attempts to explain the failed NFP and reassure investors.
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China's PMI and trade balance data are essential for risk appetite.
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Recall the fundamental events that you need to pay attention to (GMT 0 time):⠀
Tue, 06Reports: Uber, Airbnb, Caterpillar
AUD: RBA Interest Rate Decision, Monetary Policy Statement (04:30)
GBP: PMI (08:30)
USD: Exports, Imports, Trade Balance (12:30); EIA Short-Term Energy Outlook (16:00); API Weekly Crude Oil Stock (20:30)
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Wed, 07Reports: Shopify, Robinhood, Disney
USD: Сrude Oil Inventories (+Cushing) (14:30)
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Thu, 08Reports: Paramount, Unity
CNY: Exports, Imports, Trade Balance (03:00)
USD: Initial Jobless Claims (12:30)
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Fri, 09CNY: CPI, PPI (01:30)
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For more news − see Economic Calendar.
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Profits to y’all!
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