G7 Meetings -ALL DAY*
Next Release Date Jul 28, 2022
G7 meetings are attended by finance ministers and central bankers from 7 industrialized nations – Canada, Italy, France, Germany, Japan, the UK, and the US. 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 usually released after the meetings have concluded. Both the comments and statements can create significant market volatility.
While it’s not an institution, the G7 is an influential global policy-making body operating at the highest level, and its initiatives and policies can have a substantial impact on currency markets.
In G7 meeting, traders are focusing on Ban on import of Russian gold however Press release likely to have on Tuesday.
USD: Core Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items.
Released monthly, about 26 days after the month ends
Next Release Date Jul 27, 2022
This data is usually revised via the Factory Orders report released about a week later. Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore thought to be a better gauge of purchase order trends.
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Forecast- [0.4%]
Previous- [0.4%]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar. The actual figure is to release at 6:00 PM.
USD: Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods.
Released monthly, about 26 days after the month ends.
Next Release Date Jul 27, 2022
This data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes.
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Forecast- [0.1%]
Previous- [0.5%]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for Gold. The actual figure is to release at 6:00 PM.
USD: Pending Home Sales m/m at 7:30 PM
Measures: Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
Released monthly, about 28 days after the month-end.
Next Release Date Jul 27, 2022
This data is released about a week later than Existing Home Sales, but it’s more forward-looking as a contract is signed several weeks before the home is counted as sold.
It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
Forecast- [-3.5%]
Previous- [-3.9%]
Actual- ?
Impact- The forecast figure seems to be neutral for the dollar index however bullion may trade positive. . The actual figure is to release at 7:30 PM.
Source: Forex Factory
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