Upcoming economic events 24 July 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
00:30		2 points	au Jibun Bank Japan Services PMI (Jul)	———	49.4
06:45		2 points	ECB’s De Guindos Speaks	———	———
08:00		2 points	HCOB Eurozone Manufacturing PMI (Jul)	46.0	45.8
08:00		2 points	HCOB Eurozone Composite PMI (Jul)		50.9
08:00		2 points	HCOB Eurozone Services PMI (Jul)	52.9	52.8
10:00		2 points	Eurogroup Meetings	———	———
12:00		2 points	ECB’s Lane Speaks	———	———
12:30		2 points	Building Permits	1.446M	1.399M
12:30		2 points	Goods Trade Balance (Jun)	-98.00B	-99.37B
12:30		2 points	Retail Inventories Ex Auto (Jun)	———	———
13:45		3 points	S&P Global US Manufacturing PMI (Jul)	51.5	51.6
13:45		2 points	S&P Global Composite PMI (Jul)	———	54.8
13:45		3 points	S&P Global Services PMI (Jul)	54.5	55.3
14:00		3 points	New Home Sales (Jun)	643K	619K
14:00		2 points	New Home Sales (MoM) (Jun)	———	-11.3%
14:30		2 points	Crude Oil Inventories	0.700M	-4.870M
14:30		2 points	Cushing Crude Oil Inventories	———	-0.875M
16:00		2 points	Atlanta Fed GDPNow (Q2)	2.7%	2.7%
17:00		2 points	5-Year Note Auction	———	4.331%
20:05		2 points	FOMC Member Bowman Speaks	———	———

Summary of Upcoming Economic Events on July 24, 2024

1. au Jibun Bank Japan Services PMI (Jul): Measures activity in Japan’s service sector. Previous: 49.4.
2. ECB’s De Guindos Speaks: Insights into the European Central Bank’s economic outlook and policy stance.
3. HCOB Eurozone Manufacturing PMI (Jul): Measures activity in the Eurozone manufacturing sector. Forecast: 46.0, Previous: 45.8.
4. HCOB Eurozone Composite PMI (Jul): Measures overall business activity in the Eurozone. Forecast: 50.9.
5. HCOB Eurozone Services PMI (Jul): Measures activity in the Eurozone service sector. Forecast: 52.9, Previous: 52.8.
6. Eurogroup Meetings: Discussions by Eurozone finance ministers on economic policies.
7. ECB’s Lane Speaks: Comments on the ECB’s economic outlook and policy.
8. US Building Permits (Jun): Number of new building permits issued. Forecast: 1.446M, Previous: 1.399M.
9. US Goods Trade Balance (Jun): Difference between exports and imports of goods. Forecast: -98.00B, Previous: -99.37B.
10. US Retail Inventories Ex Auto (Jun): Monthly change in retail inventories excluding automobiles.
11. S&P Global US Manufacturing PMI (Jul): Measures activity in the US manufacturing sector. Forecast: 51.5, Previous: 51.6.
12. S&P Global Composite PMI (Jul): Measures overall business activity in the US. Previous: 54.8.
13. S&P Global Services PMI (Jul): Measures activity in the US service sector. Forecast: 54.5, Previous: 55.3.
14. US New Home Sales (Jun): Number of new single-family homes sold. Forecast: 643K, Previous: 619K.
15. US New Home Sales (MoM) (Jun): Monthly change in new home sales. Previous: -11.3%.
16. US Crude Oil Inventories: Weekly change in US crude oil inventories. Forecast: 0.700M, Previous: -4.870M.
17. Cushing Crude Oil Inventories: Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: -0.875M.
18. Atlanta Fed GDPNow (Q2): Real-time estimate of US GDP growth for Q2. Forecast: 2.7%, Previous: 2.7%.
19. US 5-Year Note Auction: Investor demand for 5-year US Treasury notes. Previous: 4.331%.
20. FOMC Member Bowman Speaks: Insights into the Federal Reserve’s policy stance.

Market Impact Analysis

• Japan Services PMI: Figures below 50 indicate contraction, potentially impacting JPY; above 50 suggests expansion.
• ECB’s De Guindos and Lane Speeches: Comments provide insights into ECB’s policy; dovish tones reassure markets, hawkish tones increase volatility.
• Eurozone PMIs: Stable or rising PMIs support EUR; declining PMIs indicate economic slowdown.
• US Building Permits and New Home Sales: Strong figures support USD and economic confidence; declines signal potential housing market issues.
• US Goods Trade Balance: Lower deficit supports USD; higher deficit could indicate trade issues.
• US Manufacturing and Services PMIs: Figures above 50 suggest expansion, supporting USD; below 50 indicates contraction.
• US Crude Oil and Cushing Inventories: Decreasing inventories support oil prices; increasing inventories could pressure prices.
• Atlanta Fed GDPNow: Stable GDP estimate supports market confidence; significant changes impact outlook.
• 5-Year Note Auction: Strong demand supports bonds and lowers yields; weak demand could raise yields and impact equities.

Overall Impact

• Volatility: High, with significant potential reactions in equity, bond, and commodity markets.
• Impact Score: 7/10, indicating a high potential for market movements.