Economic calendar: Fitch downgrade, ADP jobs report in the spotlight

7:47 AM 2 August 2023
  • European indices set to open lower

  • Fitch downgrades US credit rating

  • ADP jobs report to give hints ahead of Friday's NFP

Futures markets point to a lower opening of the European cash session today. EuroStoxx futures are around 0.8% down at press time. This comes amid an increase in risk aversion, following Fitch downgrade of US credit rating. Fitch lowered US credit rating from AAA to AA+ after putting it on negative watch back in May. The story will likely continue to make headlines today.

Economic calendar for the day ahead is light. Traders will be offered ADP jobs report for July as well as EIA report on US inventories. Both will be watched closely - ADP data will be on watch as it will be the final hint ahead of Friday's NFP report while EIA report will be on watch following massive inventory slump signaled by API data yesterday.

1:15 pm BST -  US, ADP employment report for July. Expected: 190k. Previous: 497k

3:30 pm BST - EIA report on US oil inventories.

  • Oil inventories. Expected: -0.9 mb (API: -15.4 mb)

  • Gasoline inventories. Expected: -1.4 mb (API: -1.68 mb)

  • Distillate inventories. Expected: +0.8 mb (API: -0.51 mb)

Top Wall Street earnings reports

  • CVS Health (CVS.US) - before market open

  • DoorDash (DASH.US) - after market close

  • Kraft Heinz (KHC.US) - before market open

  • Marathon Oil (MRO.US) - after market close

  • PayPal Holdings (PYPL.US) - after market close

  • Phillips 66 (PSX.US) - before market open

  • Qualcomm (QCOM.US) - after market close

  • Robinhood Markets (HOOD.US) - after market close

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits