Below are the various significant events for the day. We are expecting a bit supportive data for bullions.
GBP: MPC Official Bank Rate Votes at 4:30 PM
Released monthly
Next Release: Aug 4, 2022
The vote is reported in an ‘X-X-X’ format – the first number is how many MPC members voted to increase interest rates, the second number is how many voted to decrease rates, and the third is how many voted to hold rates
The BOE’s MPC meeting minutes contain the interest rate vote for each MPC member during the most recent meeting. The breakdown of votes provides insight into which members are changing their stance on interest rates and how close the committee is to enacting a rate change in the future
Forecast- [9-0-0]
Previous- [9-0-0]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar while negative for bullions. The actual figure is to release at 6:00 PM.
USD: Philly Fed Manufacturing Index at 6:00 PM
Measures: Level of a diffusion index based on surveyed manufacturers in Philadelphia
Released monthly, on the third Thursday of the current month
Next Release: Jul 21, 2022
Economic Indicator: Above 0.0 indicates improving conditions, below indicates worsening conditions
It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment
Forecast- [5.1]
Previous- [2.6]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and the dollar while negative for bullions. The actual figure is to release at 6:00 PM.
USD: Unemployment Claims at 6:00 PM
Measures: The number of individuals who filed for unemployment insurance for the first time during the past week
Released weekly, usually on the first Thursday after the week ends
Next Release: June 23, 2022
This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy
Forecast- [215K]
Previous- [229K]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and the dollar while negative for bullions. The actual figure is to release at 6:00 PM.
Natural Gas Storage at 8:00 PM
Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week
Released weekly, 5 days after the week ends
Next Release date: June 23, 2022
Inventories are used to maintain price stability during supply shortages and periods of increasing demand
Forecast- [92B]
Previous- [97B]
Actual- ?
Impact- The forecast figure seems to be slightly supportive of Natural Gas The actual figure is to release at 8:00 PM.