(Note: all times HKT)
While the upcoming U.S. jobs report will undoubtedly be highly-scrutinized, this week, one thing’s supreme and’ll make chicks scream: Greece’s whining.
With a national referendum coming and a bailout package just days from expiring, Greece is sure to capture all the headlines this week uber alles.
Here’s what else you should look out for:
Monday will be a little light on the market-moving data front, though Japan is set to reveal their retail sales figures for May around 8 am. Analysts currently forecast sales in the region to practically halve from the month before. Germany’s preliminary inflation rate figures for June meanwhile, is scheduled to be published at 8 pm. Analysts currently expect inflation in the nation to slow down to 0.5%, a 0.2% decline from the month before.
Around 5 pm Tuesday, the EU’s May unemployment rate number is scheduled to come out. Analysts’ current forecasts place it unchanged at 11.1%. Canada’s monthly GDP snapshot will also be on focus after last month’s surprise 0.2% contraction. Set to be published at 8:30 pm, Canada’s April GDP number is projected to gain around 0.1%. Capping the day meanwhile will be America’s June CB consumer confidence figure at 10 pm, which analysts forecast to come in higher at around 97.2.
Wednesday meanwhile begins with two biggies; the EU’s bailout expiration and the IMF loan repayment deadline at 7 am. With both sides refusing to budge, this should be really interesting. If a Grexit does happen, Mark Dow has made a list of a few good things that should come out of it. We’re ignoring the billions of Eurozone taxpayer and IMF money poised to evaporate though. Meanwhile, around 8 am, Japan’s second quarter Tankan large manufacturers index is scheduled to be published. It is widely expected to remain unchanged. An hour later at 9 am, China’s June NBS manufacturing PMI is slated to be released. Analysts surveyed expect the number to decline a little further. Ending the day will the U.S., who is slated to reveal their June unemployment rate change and manufacturing PMI figures at 8 pm and 10 pm respectively. Forecasts for both figures peg them to come in somewhat unchanged.
Thursday morning will be bereft of any big data, though at 830 pm, U.S. June non-farm payrolls and unemployment rate numbers are expected to come out. These will be highly scrutinized for signs of a second quarter rebound in the U.S. economy. Economists currently project a decrease from the 280,000 jobs created in May, pegging June jobs to come in at around 220,000 while surveys show unemployment dropping down to 5.4%.
Friday caps the week with China reporting its June services PMI around 10 am, with analysts forecasting it to slip down a few notches to 52.9
Photo credit: Jaafar Alnasser via Flickr