Market Review 02 July 2020

by Constantinos Loizou

  • In the Economic calendar of today we can expect some volatility in AUD, EUR and USD. 
  • At 01:30 (GMT) the trade balance was released by the Australian Bureau of Statistics 
  • The trade balance is the difference in the value of its imports and exports of Australian goods. The result was worse than expected (-975M) at 8025M. 
  • At 07:00 (GMT) the Spanish Government released the Unemployment Survey, which shows the number of unemployed workers added during the previous month. 
  • The result was positive since the figure was decreased since the last month by 21.5K at 5.1K. 
  • At 08:00 (GMT) Italy’s National Institute of Statistics released the Unemployment Rate, which is the number of unemployed workers divided by the total civilian labor force. 
  • The result was worse than expected (+0.1%) at 7.8%. 
  • At 12:30 (GMT) the US Bureau of Labor Statistics will release their Nonfarm Payrolls (NFP) 
  • NFP measures the change in the number of people employed during the previous month, excluding the farming industry. 
  • The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank 
  • The result is forecasted to increase to 3000K considering that the last month was at 2509K 
  • Finally, at 12:30 (GMT) the US Bureau of Labor Statistics will announce their Unemployment Rate
  • The result is forecasted to decrease to 12.3% considering that the last month was at 13.3%