Economic calendar: ADP – the first US jobs report of the week 🎯

7:01 AM 2 July 2025

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.

Detailed daily calendar:

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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