Friday is the US Jobs Report day, so let’s take a closer look with the Economic Calendar.
Starting things off at 6 AM are the German Factory Orders for June. The total number of orders stood unchanged in May as a gain in foreign orders was reversed by a drop in domestic orders.
Swiss National Bank Foreign Currency Reserves for July follow at 7. Reserves have been growing for the past 4 months.
The highly anticipated US Employment Report for July is out at 12:30 PM GMT. The June data came in much stronger than anticipated, and traders are speculating another good report could convince the Fed to raise the interest rate in September.
Neighbouring Canada will release its labour report for July at the same time, and it is of high importance to Loonie Dollar traders. Canadian employment actually declined in June, although the unemployment rate went down as well.
Canadian Ivey PMI for July comes at 2. The Index rebounded in June, having slipped in the negative territory the previous month.
And US Consumer Credit for June concludes the schedule at 7. Consumer borrowing accelerated in May on the back of rising car and study loans.
I’m Sam Meredith and you’ve been watching the Economic Calendar for Friday, the 5th of August. Our next calendar will cover Monday, so check back.
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