Jeremy Oles
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| Time(GMT+0/UTC+0) | State | Importance | Event | Forecast | Previous |
| 01:30 |  | 2 points | Building Approvals (MoM) (May) | 5.5% | -0.3% |
| 01:30 |  | 2 points | CPI (MoM) (Jun) | -0.1% | -0.1% |
| 01:30 | | 2 points | CPI (YoY) (Jun) | 0.4% | 0.3% |
| 01:30 | | 2 points | PPI (YoY) (Jun) | -0.8% | -1.4% |
| 02:00 |  | 3 points | RBNZ Interest Rate Decision | 5.50% | 5.50% |
| 02:00 | | 2 points | RBNZ Rate Statement | ——— | ——— |
| 11:00 |  | 2 points | OPEC Monthly Report | ——— | ——— |
| 14:00 | | 3 points | Fed Chair Powell Testifies | ——— | ——— |
| 14:30 | | 3 points | Crude Oil Inventories | -0.250M | -12.157M |
| 14:30 | | 2 points | Cushing Crude Oil Inventories | ——— | 0.345M |
| 16:00 | | 2 points | Atlanta Fed GDPNow (Q2) | 1.5% | 1.5% |
| 17:00 | | 3 points | 10-Year Note Auction | ——— | 4.438% |
| 18:30 | | 2 points | FOMC Member Bowman Speaks | ——— | ——— |
Summary of Upcoming Economic Events on July 10, 2024
- Australia Building Approvals (MoM) (May): Monthly change in the number of new building approvals. Forecast: +5.5%, Previous: -0.3%.
- China CPI (MoM) (Jun): Monthly change in consumer prices. Forecast: -0.1%, Previous: -0.1%.
- China CPI (YoY) (Jun): Annual change in consumer prices. Forecast: +0.4%, Previous: +0.3%.
- China PPI (YoY) (Jun): Annual change in producer prices. Forecast: -0.8%, Previous: -1.4%.
- RBNZ Interest Rate Decision: Reserve Bank of New Zealand’s decision on the benchmark interest rate. Forecast: 5.50%, Previous: 5.50%.
- RBNZ Rate Statement: Statement accompanying the RBNZ’s interest rate decision.
- OPEC Monthly Report: Report detailing OPEC’s outlook on oil production and market conditions.
- Fed Chair Powell Testifies: Key views on U.S. economic conditions and policies.
- Crude Oil Inventories: Weekly change in the number of barrels of crude oil held in inventory by commercial firms. Forecast: -0.250M, Previous: -12.157M.
- Cushing Crude Oil Inventories: Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: +0.345M.
- Atlanta Fed GDPNow (Q2): Real-time estimate of U.S. GDP growth for Q2. Forecast: 1.5%, Previous: 1.5%.
- 10-Year Note Auction: Reflects investor demand for U.S. 10-year Treasuries. Previous: 4.438%.
- FOMC Member Bowman Speaks: Additional insights into the Federal Reserve’s policy stance.
Market Impact Analysis
- Australia Building Approvals: Higher approvals indicate strong construction activity, potentially boosting AUD; lower than expected could signal a slowdown.
- China CPI (MoM and YoY): Stable or higher CPI indicates inflationary pressures, affecting the yuan (CNY) and policy expectations; lower CPI might signal economic weakness.
- China PPI (YoY): Higher PPI suggests increasing production costs, potentially boosting the CNY; lower PPI indicates deflationary pressures.
- RBNZ Interest Rate Decision and Statement: No change in rates expected; dovish or hawkish tone in the statement could affect NZD and local markets.
- OPEC Monthly Report: Provides insights on oil production and demand, impacting oil prices and energy stocks.
- Fed Chair Powell: Neutral or dovish testimony could reassure markets; hawkish tone may lead to higher bond yields and lower equities.
- Crude Oil Inventories: Smaller drawdown than forecast could pressure oil prices down; larger drawdown could boost prices.
- Cushing Crude Oil Inventories: Reflects storage levels; impacts oil price volatility.
- Atlanta Fed GDPNow (Q2): Stable GDP estimate supports confidence; significant changes could impact market outlook.
- 10-Year Note Auction: Strong demand supports bonds and lowers yields; weak demand could raise yields and impact equities.
- FOMC Member Bowman: Dovish comments reassure markets; hawkish remarks increase volatility.
Overall Impact
- Volatility: High, with significant potential reactions in equity, bond, and oil markets.
- Impact Score: 7/10, indicating a high potential for market movements.
