Greece & Germany, Thunder Buddies For Life??

Intro: Investors will be watching the latest developments in Greece as both sides continue to work on preventing a Greek default during the holiday shortened week

The first week of the month is always filled with a ton of data from across the globe. In addition to the Unemployment Rate and Nonfarm Payrolls, domestically we will see ISM Index, Consumer Confidence and Construction Spending

Greece: Over the weekend, Greece surprisingly called for a referendum for July 5th. In reaction, the ECB decided not to extend emergency financing and Greek banks are now closed all week. Because of the latest events, we should expect volatility in global markets. Any news this week has the potential to move markets in either direction based on the latest developments 

Non Farm Payrolls & Unemployment Rate: Because of the Fourth of July holiday, Non-Farm Payrolls and the Unemployment Rate will be released on Thursday (7/2).

Nuclear Talks: Negotiations between Iran and the six-nation group led by the US are reaching their June 30th deadline. If some of the sanctions are lifted, we could see an additional million barrels hit the market further pushing the price of crude lower

Consumer Confidence: On Tuesday (6/30), data on Consumer Confidence is released. If readings come in higher than expected, traders will associate it with consumer’s making bigger purchases and improving market conditions

Construction Spending: On Wednesday (7/1), we get the latest construction spending data. If the results come in better than expected, Investors will point to improvements in payrolls and the labor market.

 

MONDAY (6/29)

  • 10:00 AM ET – Pending Home Sales - May

 

TUESDAY (6/30)

  • 9:30 AM ET – Chicago PMI – Jun
  • 10:00 AM ET – Consumer Confidence - Jun
  • ANZ Business Confidence
  • Great Britain Current Account
  • Reserve Bank of Australia Governor Glenn Stevens speaks
  • Canada GDP

WEDNESDAY (7/1)

  • 7:30 AM ET - Challenger Job Cuts - Jun - Prior = 41K
  • 8:15 AM ET – ADP Employment Change - Jun
  • 10:00 AM ET – ISM Index - Jun
  • 10:00 AM ET – Construction Spending - May
  • 10:30AM ET – Crude Oil Inventories
  • 5:00 PM ET – Auto Sales – Jun
  • China Manufacturing PMI
  • China HSBC Manufacturing PMI
  • Japan Final Manufacturing PMI
  • Australia Building Approvals
  • European Final Manufacturing PMI
  • Great Britain Manufacturing PMI
  • Earnings: General Mills, Constellation Brands

 

THURSDAY (7/2)

  • 8:30 AM ET - Weekly Jobless Claims
  • 8:30 AM ET - Nonfarm Payrolls - Jun
  • 8:30 AM ET - Unemployment Rate - Jun
  • 8:30 AM ET – Hourly Earnings - Jun
  • 10:00 AM ET – Factory Orders – May
  • New Zealand GDT Price Index
  • Great Britain Construction PMI

 

FRIDAY (7/3)

  • US banks will be closed in observance of Independence Day
  • China HSBC Services PMI
  • Great Britain Services PMI