Five most important news to start your day. These events are very likely to influence the market and trigger exchange rate fluctuations. Read to stay informed.
Event: PepsiCo Earnings Report
Time: 13:30 GMT
PepsiCo (NYSE: PEP) is due to report its earnings for the second quarter of 2017 today before market open. The sugary drinks and salty beverages giant underperformed the S&P 500 but in the last one year still has the potential to show decent financial performance in the future. Earnings per share are expected to demonstrate moderate growth from $1.35 in July 2016 to $1.4. Earnings reports have a potential to cause volatility spikes: positive if the data revealed in the report satisfies the investors and negative if important readings fall short of expectations.
Read our in-depth analysis to learn more about PEP shares.
Event: Australia Business Confidence
Time: 01:30 GMT
The NAB Business confidence index gives an insight into current business conditions in Australia. The index is calculated based on a phone survey of 600 small, medium and large enterprises. The higher the reading, the more positive the outlook for the Australian economy looks in the upcoming month. The NAB Business confidence grew for the second consecutive month in July, which can signify a slow improvement in the national business conditions and revitalization of Australia-based enterprises.
Event: BoE MPC Member Haldane Speaks, BoE MPC Member Broadbent Speaks
Time: 09:00 GMT, 11:00 GMT
Two Bank of England officials are expected to deliver their speeches today at 09:00 and 11:00 GMT. Bank of England has ultimate power over short-term interest rates and can therefore influence the exchange rate of the British currency. An increase in the benchmark interest rate will most certainly lead to the appreciation of the GBP, while a decrease has a potential to bring the exchange rate of the GBP down.
Event: JOLTs Job Openings (May)
Time: 14:00 GMT
The US Bureau of Labor Statistics will report JOLTs Job Openings today. The metric helps to calculate all open positions as of the last day of the previous month. Employment is one of the key indicators of the national economy, closely monitored by professional traders and economists. Job openings reflect the amount of jobs the business is ready to offer to the labor market. As a rule, higher numbers correspond to expanding economy and therefore appreciating national currency.
Higher than expected readings can be perceived as bullish for the USD, lower than expected readings are negative for the USD.
Event: FOMC Member Brainard Speaks, FOMC Member Kashkari Speaks
Time: 16:30 GMT, 17:20 GMT
The Federal Open Market Committee (FOMC) is a part of the Federal Reserve. The committee is responsible for overseeing open market operations in the United States. The governmental body makes decisions on money supply and key interest rate, both of which can seriously affect the exchange rate of the national currency.
Two representatives of the FOMC will publicly give their speeches today at 16:30 GMT and 17:20 GMT. The United States dollar can appreciate or depreciate against other currencies depending on the context of their messages.
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