Today we’ll receive the first jobs report from the U.S. this week. Although its importance has declined somewhat recently, it remains a publication closely watched by the market.
Investors will be looking for signs of a potential slowdown that would align with the broader weakening of consumer strength in recent months. Goldman Sachs predicts that the June U.S. employment report could be a turning point for the dollar, especially if it reveals labor market weakness. A dovish surprise would likely weaken the USD, particularly against the euro and yen. As geopolitical tensions ease, macroeconomic data—such as employment—may once again become the dominant market driver.
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08:00 AM BST, Spain - Employment Data for June:
- Spanish Unemployment Change: forecast -69.5K; previous -57.8K;
09:00 AM BST, Euro Zone - ECB's De Guindos Speaks
10:00 AM BST, Euro Zone - Employment Data for May:
- Unemployment Rate: forecast 6.2%; previous 6.2%;
10:30 AM BST, Germany - German 10-Year Bund Auction:
- previous 2.540%;
11:30 AM BST, Euro Zone - ECB's Lane Speaks
01:15 PM BST, United States - Employment Data for June:
- ADP Nonfarm Employment Change: forecast 99K; previous 37K;
03:15 PM BST, Euro Zone - ECB President Lagarde Speaks
03:30 PM BST, United States - EIA Data:
- EIA Weekly Distillates Stocks: forecast -1.650M; previous -4.066M;
- Gasoline Inventories: forecast 0.660M; previous -2.075M;
- Crude Oil Inventories: forecast -3.500M; previous -5.836M;
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