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- Upcoming Economic Events & Forecast | 1st August, 2022
Upcoming Economic Events & Forecast | 1st August, 2022
The SEBC 2022 Online Conference
- Date & Time: Monday 1st August - Wednesday 3rd August
- Influenced Assets: BTC and rest of the cryptocurrencies
- Previous Figures: N/A
- *Prediction: N/A
Why Our Traders Care: The Sustainable Energy; Blockchain & Cryptocurrency conference đ is a meeting hub for managers, engineers, scientists and researchers from educational institutes and the industry all over the world. The SCBC 2022 aims to develop a sole place to discuss critical challenges in the field of blockchain đ§±âïž and crypto. This is great đą for our traders and investors alike as it creates more bullish sentiment across the board đȘ as the more exposure and developments these communities have, the better for the ecosystems long-term growth.
The ISM Manufacturing PMI
- Date & Time: Monday 1st August, 5:00pm GMT+3
- Influenced Assets: USD and global markets
- Previous Figures: 53.0
- *Prediction: 52.3
Why Our Traders Care: The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) Report on Business is based on data đ that is collected from monthly replies to questions asked of executives in 400+ industrial companies.
A higher đ than expected reading should be taken as positive/bullish đ for the USD, while a lower đ than expected reading should be taken as negative/bearish đ for the USD. If the strength of the dollar increases, then assets that trade against the dollar (like BTC/USD or EUR/USD etc) mostly decrease and vice versa.
JOLTS Job Openings
- Date & Time: Tuesday 2nd August, 5:00pm GMT+3
- Influenced Assets: USD and global markets
- Previous Figures: 11.25 million
- *Prediction: 10.99 million
Why Our Traders Care: This is a survey đ done by the US Bureau of Labour Statistics to help measure the nationâs job vacancies. It collects data from employers about their businesses' employment, job openings, recruitment, hires and separations.
A reading that is stronger đȘ than forecasted is generally supportive (bullish) for the USD and bearish with those trading against the USD; while a reading that is weaker đ€ than forecasted is generally negative (bearish) for the USD, bullish for those trading against it.
UK Official Bank Rate
- Date & Time: Thursday 4th August, 2:00pm GMT+3
- Influenced Assets: GBP
- Previous Figures: 1.25%
- *Prediction: 1.75%
Why Our Traders Care: This event is where the Bank of England (BOE) đïž monetary policy committee members vote on where to set interest rates. Traders watch interest rate changes closely đ” as short term interest rates are the primary factor in the currency valuation. This lies amongst other meetings and data releases such as the BofE Monetary Policy Report, the Monetary Policy Summary and of course, the governor Andrew Bailey speaking.
A higher đ than expected rate is positive/bullish for the GBP, while a lower đ than expected rate is negative/bearish for the GBP.
Non-Farm Payroll/Employment Change (NFP)
- Date & Time: Friday 5th August, 3.30pm GMT+3
- Influenced Assets: USD and global markets
- Previous Figures: 372K
- *Prediction: 250K
Why Our Traders Care: The Nonfarm Payrolls/Employment Change measures the change in the number of people who are employed đšâđŒ during the previous month, excluding the farming industry. Job creation is the one of the most important indicators đ§ of consumer spending, which makes up the majority of economic activity.
A higher đ than expected reading should be taken as positive/bullish for the USD, while a lower đ than expected reading should be taken as negative/bearish for the USD.
Unemployment Rate
- Date & Time: Friday 5th August, 3.30pm GMT+3
- Influenced Assets: USD and global markets
- Previous Figures: 3.6%
- *Prediction: 3.6%
Why Our Traders Care: The Unemployment Rate measures the percentage of the total workforce that is unemployed đ and actively seeking employment during the previous month.
A higher đ than expected reading should be taken as negative/bearish for the USD, while a lower đ than expected reading should be taken as positive/bullish for the USD.
*Any predictions or other information contained in this article are provided as general market commentary and do not constitute investment advice. Any predictions displayed are derived from governmental sources/announcements or from leading market analysts but do not constitute accurate information that investment decisions should be based on.
Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.
Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.