Financial markets are starting Tuesday's session in a moderate mood, with investors analyzing incoming inflation data from the Asia-Pacific region and the stabilization in the energy commodities market. Although today's macroeconomic calendar remains relatively light, investor attention will focus on afternoon releases from North America. The key reading of the day will be the JOLTs job openings report from the US, which will provide further clues about the health of the American labor market in the context of future Federal Reserve interest rate decisions. Meanwhile, US factory orders data and Canadian PMI indicators will shed light on the current dynamics in the manufacturing sector.
Key Releases from the Asian Session
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South Korea's annual consumer price inflation (CPI) slowed to 2.8% YoY in July, below expectations of 3.0% YoY and the previous reading of 3.0% YoY.
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On a monthly basis, South Korea's CPI fell by 0.2% MoM, coming in below the market consensus which anticipated a 0.1% MoM rise.
Macroeconomic Calendar
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08:00 Romania - PPI Inflation YoY. Previous reading: 12.05%.
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08:30 Australia - Commodity Prices Index YoY. Previous reading: 16.9%.
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10:00 Italy - Retail Sales s.a. MoM. Consensus: 0.1%. Previous reading: 0.2%.
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14:30 USA - Trade Balance. Consensus: -73.1B USD. Previous reading: -77.6B USD.
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14:30 Canada - Trade Balance. Consensus: 3.1B CAD. Previous reading: 4.24B CAD.
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15:30 Canada - Manufacturing PMI. Consensus: 50.5. Previous reading: 53.0.
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16:00 USA - Factory Orders ex Transportation fin. MoM. Consensus: 0.6%. Previous reading: 1.8%.
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16:00 USA - Durable Goods Orders fin. MoM. Consensus: 0.3%. Previous reading: -4.0%.
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16:00 USA - Factory Orders MoM. Consensus: 0.2%. Previous reading: -1.3%.
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16:00 USA - JOLTs Job Openings. Consensus: 7.45M. Previous reading: 7.594M.
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22:40 USA - API Weekly Crude Oil Stock Change. Consensus: N/A. Previous reading: 3.3M bbl.
Earnings Releases
Before market open:
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Merck & Company, Inc.
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Caterpillar Inc.
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Pfizer Inc.
After market close:
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SpaceX
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AMD
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Arista Networks
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Light & Wonder Inc.
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ONEOK Inc.
Markets to Watch:
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USD/CAD – Due to simultaneous trade balance and manufacturing PMI releases from Canada, combined with key US JOLTs data at 16:00, this currency pair may experience elevated volatility.
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S&P 500 (US500) – The JOLTs report serves as a direct catalyst for pricing the Fed's interest rate trajectory, which, along with quarterly earnings from major companies (e.g., Caterpillar, Pfizer), will drive equity market direction.
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Crude Oil (WTI / Brent) – US factory orders data and the late-night API crude inventory report will be crucial for short-term energy demand pricing.
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