🗓️ Economic Data Of The Week
"Week of July 6th to 10th"
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The economic calendar is lighter this week, but investors will still have several key reports to monitor following last week’s mixed employment data.
MONDAY’s focus will be on the June ISM and S&P Services PMI reports, with ISM Services PMI expected to remain in expansion at 54.1. TUESDAY brings the Trade Balance, Redbook Retail Sales, IBD/TIPP Economic Optimism, and the New York Fed’s one-year inflation expectations survey, which is expected to ease to 3.4%.
Housing data remains in focus as the MBA 30-year mortgage rate is expected to edge down to 6.55%, while Existing Home Sales are forecast to improve slightly to 4.20 million. Weekly jobless claims will provide another update on labor market conditions, with initial claims expected at 218,000.
Markets will also digest the latest FOMC meeting minutes and comments from Fed officials ahead of the July 29 Fed meeting as investors continue reassessing the outlook for interest rates following June’s hawkish reset.
How do you think this week’s reports will affect the market?
Let me know what you think in the comments.
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