zerohedge.com / by Tyler Durden / Jul 31, 2017 8:38 AM
As many traders quietly leave for summer break soaking up even more liquidity as they go, a busy US calendar unfolds in the week ahead, with ISM, PCE price data and, of course, payrolls in the spotlight.
Key Events, courtesy of RanSquawk
- Monday: Eurozone CPI (Jul, P), China Official PMIs (Jul)
- Tuesday: RBA MonPol Decision, Eurozone GDP (Q2, Initial)
- Wednesday: ADP, Fed’s Mester, Williams speak
- Thursday: BoE MonPol Decision, Meeting Minutes & Quarterly Inflation Report
- Friday: US Labour Market Report (Jun), Canadian Labour Market Report (Jun), RBA SoMP
In North America, June’s US Labor Market Report headlines the docket next week. Analysts expect the Nonfarm Payrolls headline to print at 187,000, with the unemployment rate expected to tick down to 4.3%, while hourly earnings are expected to remain subdued. The H1 average for the Nonfarm Payrolls release sits at 180,000. Following its latest statement, the Federal Reserve noted that “job gains have been solid, while household spending and business fixed investment have continued to expand.” The main worry is wage growth, which has remained muted, and is perhaps keeping a lid on the Federal Reserve’s hiking cycle at present, as inflation has been kept in check.
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