WEEK AHEAD: Non-farm Payrolls, Bank of England & All Eyes on China

Prepare for trading markets over the next five days with the FlowBank Week ahead report:

Jobs will be in focus in the upcoming week as investors will take in data including ADP employment and nonfarm payrolls for the month of July. Additionally, investors will keep a close eye on the latest developments on infrastructure talks over the $1 trillion plan. And a slew of companies will also report earnings including CVS Health, Moderna and General Motors to name a few.

The U.S. Bureau of Labor Statistics will release the July employment report on the morning of Friday, Aug. 6. It’s expected to show 788,000 nonfarm payrolls, down from 850,000 in June, according to Dow Jones. The unemployment rate is expected to dip to 5.7% from 5.9%. Average hourly wages are expected to rise 3.9% year over year.

The Bank of England looks set to keep its stimulus running at full speed next week despite two policymakers breaking ranks to suggest that its nearly 900 billion pound ($1.2 trillion) bond-buying scheme might have to end early as inflation speeds up. Britain's economy is rebounding quickly from its almost 10% crash of 2020, when the country suffered a higher COVID-19 death toll and longer lockdowns than most other nations.

China was also a dominant market story in the past week and could continue to be. Hong Kong’s Hang Seng Index fell 5% for the week. Chinese regulators continued their crackdown on internet companies, publicly traded education companies and other industries. Strategists say Beijing is trying to reclaim its biggest companies as its own and turn them away from listings in foreign markets.

CALENDAR


MONDAYEarningsTake-Two Interactive, Mosaic, Vornado Realty, Eastman Chemical, Simon Property, Transocean, Pioneer Natural Resources, Reynolds Consumer Products, ON Semiconductor, NXP Semiconductor, AXA, Loews

MacroEurope: Germany retail sales
US: Construction Spending, Manufacturing PMI

Monetary PolicyN/A

TUESDAYEarningsAlibaba, Amgen, Eli Lilly, Clorox, KKR, Under Armour, Eaton, Discovery, Pitney Bowes, Marriott, ConocoPhillips, Activision Blizzard, Avis Budget, Public Storage, Devon Energy, Jacobs Engineering, Bausch Health, Incyte, Philips 66, Ralph Lauren, Expeditors International, Nikola, Warner Music

MacroAsia: Tokyo CPI (JUL), Australia: Building Permits Prel (JUN)
Europe: EZ PPI
US: Canada Manufacturing PMI, US: Factory Orders

Monetary PolicyRBA Interest Rate Decision

WEDNESDAYEarningsBooking Holdings, CVS Health, GM, Etsy, MGM Resorts, Allstate, Uber, Fox Corp., Electronic Arts, Roku, Kraft Heinz, Toyota, Sony, AmerisourceBergen, Marathon Petroleum, BorgWarner, Entergy, Apollo Global Management, New York Times, Scotts Miracle-Gro, Tupperware, MetLife, IAC/Interactive

MacroAsia: New Zealand Employment Change (Q2), Australia Retail Sales Final, China: Caixin Services and Composite PMI
Europe: EZ Retail Sales
US: ADP Employment Change, Canada Building Permits, ISM Non-Manufacturing PMI, Crude Inventories

Monetary PolicyN/A

THURSDAYEarningsRegeneron, ViacomCBS, Beyond Meat, DropBox, Expedia, Sprouts Farmers Market, TrueCar, Shake Shack, Square, TripAdvisor, Cushman and Wakefield, Kellogg, Cigna, Zillow, Lions Gate, Ambac, Virgin Galactic, Motorola Solutions, Zynga, Illumina, AIG, SeaWorld, Cardinal Health, Duke Energy, Thomson Reuters, Datadog, Eventbrite, NRG Energy, Choice Hotels, Parker-Hannifin, Wayfair, Zoetis

MacroAsia: Australia Trade Balance
Europe: Germany Factory Orders, EZ Construction PMI, UK Construction PMI
US: Canada Trade Balance, US Trade Balance

Monetary PolicyBank of England Interest rate decision

FRIDAYEarningsLiberty Broadband, Liberty Media, AMC Networks, Draftkings, Fluor, Gannett, Canopy Growth, Nuance Communiciations, Goodyear Tire

MacroAsia: New Zealand: Business Inflation Expectations (Q3)
Europe: Germany Industrial Production, UK Halifax House Price Index
US: Canada Employment Change, US Non-Farm Payrolls, Canada Ivey PMI

Monetary PolicyRBA Statement on Monetary Policy

 

Sources: CNBC, Fox Business, Bloomberg, Investing.com, FX Street

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