Here is the list of specific news and events. Seems a volatile day. Though all eyes on the relationship between China and Taiwan.
EUR: Spanish Services PMI at 12:45 PM
Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry
Released monthly, on the third business day after the month ends
Next Release Date Sep 2, 2022
- Economic Indicator*: Above 50.0 indicates industry expansion, below indicates contraction
It’s positively correlated with interest rates – early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation
Forecast- [52.0]
Previous- [54.0]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while positive for bullions. The actual figure to release at 12:45 PM.
OPEC-JMMC Meetings -ALL DAY
Monthly
Next Release Sep 1, 2022
OPEC-JMMC meetings are attended by representatives from the 13 OPEC members and 11 other oil-rich nations. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded. Source first met in Jan 2017
USD: ISM Services PMI at 7:30 PM
Measures: Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry
Released monthly, on the third business day after the month ends
Next Release Date Sep 6, 2022
Above 50.0 indicates industry expansion, below indicates contraction. Source changed series from unadjusted to seasonally adjusted as of January 2001. Source changed series calculation formula as of Feb 2008
It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy
Forecast- [53.5]
Previous- [55.3]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while positive for bullions. The actual figure to release at 7:30 PM
Crude Oil Inventories at 8:00 PM
Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week
Released weekly, 4 days after the week ends
Next Release Date Aug 10, 2022
While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector
It’s the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility
Forecast- [-1.4M]
Previous- [-4.5M]
Actual- ?
Impact- The forecast figure seems to be slightly positive for Crude Oil The actual figure to release at 8:00 PM.