Weekly Economic Calendar: Key Events Impacting USD, JPY, GBP, EUR, and Gold (XAU)

Important Economic Calendar Events for the USA:

1. Core PCE Price Index (MoM) (May) – July 3, 2024: A key inflation metric closely watched by the Federal Reserve.

   - Impact: If the index shows lower-than-expected inflation, USD could weaken due to reduced pressure on the Fed to raise interest rates. Conversely, higher-than-expected inflation could strengthen USD as it increases the likelihood of rate hikes.

2. ISM Manufacturing PMI (Jun) – July 3, 2024: Measures the activity level of purchasing managers in the manufacturing sector.

   - Impact: If the PMI is above expectations, USD could strengthen as it indicates strong manufacturing activity. If below expectations, USD could weaken due to concerns about economic slowdown.

3. Initial Jobless Claims – July 4, 2024: The number of individuals who filed for unemployment insurance for the first time during the past week.

   - Impact: Lower-than-expected claims could strengthen USD as it signals a robust labor market. Higher-than-expected claims could weaken USD due to labor market concerns.

4. JOLTs Job Openings (May) – July 5, 2024: Measures job vacancies and is a key indicator of labor market strength.

   - Impact: Higher-than-expected job openings could strengthen USD as it indicates strong labor demand. Lower-than-expected openings could weaken USD due to labor market concerns.

 Important Economic Calendar Events for Japan (JPY):

1. Tankan Large Manufacturers Index (Q2) – July 3, 2024: Measures the level of confidence among large manufacturers.

   - Impact: Higher-than-expected confidence could strengthen JPY as it supports economic outlook. Lower-than-expected confidence could weaken JPY due to economic pessimism.

2. Services PMI (Jun) – July 5, 2024: Reflects the activity level of purchasing managers in the services sector.

   - Impact: Higher-than-expected PMI could strengthen JPY as it indicates strong services activity. Lower-than-expected PMI could weaken JPY due to concerns about services sector slowdown.

 Important Economic Calendar Events for the UK (GBP):

1. Manufacturing PMI (Jun) – July 3, 2024: Indicates the economic health of the manufacturing sector.

   - Impact: Higher-than-expected PMI could strengthen GBP as it reflects strong manufacturing performance. Lower-than-expected PMI could weaken GBP due to manufacturing struggles.

2. Construction PMI (Jun) – July 4, 2024: Measures the performance of the construction sector.

   - Impact: Higher-than-expected PMI could strengthen GBP as it signals strong construction activity. Lower-than-expected PMI could weaken GBP due to construction sector slowdown.

 Important Economic Calendar Events for the Eurozone (EUR):

1. CPI (YoY) (Jun) – July 3, 2024: Measures the change in the price of goods and services from the perspective of the consumer.

   - Impact: Lower-than-expected CPI could weaken EUR as it reduces the need for ECB rate hikes. Higher-than-expected CPI could strengthen EUR as it might prompt ECB action.

2. Services PMI (Jun) – July 5, 2024: Indicates the activity level of purchasing managers in the services sector.

   - Impact: Higher-than-expected PMI could strengthen EUR as it suggests robust services sector activity. Lower-than-expected PMI could weaken EUR due to concerns about services sector slowdown.

 Important Economic Calendar Events for Gold (XAU):

1. Core PCE Price Index (MoM) (May) – July 3, 2024: Influences gold prices as it affects inflation expectations and Fed policy.

   - Impact: Lower-than-expected inflation could strengthen XAU as lower rates make gold more attractive. Higher-than-expected inflation could weaken XAU due to increased rate hike expectations.

2. ISM Manufacturing PMI (Jun) – July 3, 2024: Impacts gold as it reflects overall economic health and manufacturing activity.

   - Impact: Higher-than-expected PMI could weaken XAU as a strong economy reduces demand for safe-haven assets. Lower-than-expected PMI could strengthen XAU as investors seek safety.