This week the theme will be different, and the players will be various, as data are lining up from all around the globe, with two main and very important highlights, the famous jobs report that will be released on Thursday, a day before the 4th of July holiday in the U.S. markets, and at the very same day, the ECB will announce their rate decision and will have their usual press conference afterwards to clarify the facts surrounding the economy.
While the job market is forecasted to have further declined in the United States during June, ringing more alerts in the U.S. economy about the threats the jobs market poses on economic growth, a long with skyrocketing food and energy prices, the European Central Bank led by Mr. Jean Claude Trichet are expected to pick up rates a quarter point to 4.25% as fears from inflation seems to be the major concern in there, and growth is still sustainable, or sound we might say.
Before that, the U.S. economy will have the usual course of fundamentals across the week of the jobs report, with the institute of supply management both service and manufacturing report, the ADP employment report, and the PMI report, all trying to speculate and expect what might the jobs report be.
While if we traveled for the east, we will find that the Japanese economy is also queuing some major fundamentals as well, and most importantly, we have the famous Tankan survey that is due tonight and might have a great impact on markets.
The week is full to the neck all over 4 days a head of us, as on Friday, there will be no fundamentals whatsoever as the Americans will be celebrating the declaration of independence day the forth of July, with all the fireworks and emblazoned places, markets will be tired and taking the rest it needed.