Cryptocurrency analytics and forecastsUpcoming economic events 10 July 2024

Upcoming economic events 10 July 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
01:30🇦🇺2 pointsBuilding Approvals (MoM) (May)5.5%-0.3%
01:30🇨🇳2 pointsCPI (MoM) (Jun)-0.1%-0.1%
01:30🇨🇳2 pointsCPI (YoY) (Jun)0.4%0.3%
01:30🇨🇳2 pointsPPI (YoY) (Jun)-0.8%-1.4%
02:00🇳🇿3 pointsRBNZ Interest Rate Decision5.50%5.50%
02:00🇳🇿2 pointsRBNZ Rate Statement——————
11:00🇺🇸2 pointsOPEC Monthly Report——————
14:00🇺🇸3 pointsFed Chair Powell Testifies——————
14:30🇺🇸3 pointsCrude Oil Inventories-0.250M-12.157M
14:30🇺🇸2 pointsCushing Crude Oil Inventories———0.345M
16:00🇺🇸2 pointsAtlanta Fed GDPNow (Q2)1.5%1.5%
17:00🇺🇸3 points10-Year Note Auction———4.438%
18:30🇺🇸2 pointsFOMC Member Bowman Speaks——————

Summary of Upcoming Economic Events on July 10, 2024

  1. Australia Building Approvals (MoM) (May): Monthly change in the number of new building approvals. Forecast: +5.5%, Previous: -0.3%.
  2. China CPI (MoM) (Jun): Monthly change in consumer prices. Forecast: -0.1%, Previous: -0.1%.
  3. China CPI (YoY) (Jun): Annual change in consumer prices. Forecast: +0.4%, Previous: +0.3%.
  4. China PPI (YoY) (Jun): Annual change in producer prices. Forecast: -0.8%, Previous: -1.4%.
  5. RBNZ Interest Rate Decision: Reserve Bank of New Zealand’s decision on the benchmark interest rate. Forecast: 5.50%, Previous: 5.50%.
  6. RBNZ Rate Statement: Statement accompanying the RBNZ’s interest rate decision.
  7. OPEC Monthly Report: Report detailing OPEC’s outlook on oil production and market conditions.
  8. Fed Chair Powell Testifies: Key views on U.S. economic conditions and policies.
  9. 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.
  10. Cushing Crude Oil Inventories: Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: +0.345M.
  11. Atlanta Fed GDPNow (Q2): Real-time estimate of U.S. GDP growth for Q2. Forecast: 1.5%, Previous: 1.5%.
  12. 10-Year Note Auction: Reflects investor demand for U.S. 10-year Treasuries. Previous: 4.438%.
  13. 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.

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