The financial world is poised for some key events this week with the potential to shake up markets. Top of the agenda is the upcoming decisions from various central banks on their interest rates.

Alongside this, the focus will be on the US as it releases its latest Consumer Price Index (CPI) and Producer Price Index (PPI). These important data points could provide crucial insights into the current economic climate.

Stay tuned as we delve into what the coming week holds in store. 

Reserve Bank of New Zealand Rate Statement (12 July 2023)

The Reserve Bank of New Zealand raised its official cash rate by 25bps to 5.5% during its May meeting, marking the highest level since December 2008. This was the 12th consecutive rate hike.

Analysts predict that at the upcoming meeting on July 12, the RBNZ will keep its interest rates steady at 5.5%. 

US Consumer Price Index (12 July 2023)

Consumer prices in the US saw a slight rise of 0.1% in May 2023, a slowdown from the 0.4% increase witnessed in the previous month. 

Analysts anticipate a 0.2% rise for June 2023 data, scheduled for release on 12 July. 

Bank of Canada Rate Statement (12 July 2023) 

The Bank of Canada unexpectedly raised the target for its overnight rate by 25bps to 4.75% in June 2023, after pausing the tightening campaign in the previous two meetings. 

The next rate statement will be released on 12 July 2023, with analysts anticipating another increase of 25bps to 5%.

UK Gross Domestic Product (13 July 2023)

The British economy expanded 0.2% month-over-month in April 2023, rebounding from a 0.3% drop in the previous month. 

For May data, set to be released on 13 July, the country’s GDP is expected to be steady at 0.0%. 

US Producer Price Index (13 July 2023)

Producer prices for final demand in the US decreased 0.3% month-over-month in May 2023, following a 0.2% rise in April. 

For June 2023 data, set to be released on 13 July, analysts expect a 0.2% increase.

Prelim University of Michigan Consumer Sentiment (14 July 2023)

The University of Michigan’s consumer sentiment for the US was adjusted upwards to 64.4 in June 2023, its highest level in four months, up from an initial reading of 63.9. 

For July preliminary data, analysts expect a reading of 64.5.

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Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

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Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Sydney, Australia, 4 July 2023 – VT Markets, a global multi-asset broker, is proud to announce the expansion of its corporate social responsibility (CSR) with new sponsorship and donation initiatives. In a bid to make a positive impact on the world outside of trading, the brokerage is actively seeking collaborations with individuals and organisations that share its values of servant leadership and sustainable development.

VT Markets recognises that leadership requires more than just being exceptional in the trading industry. It involves actively engaging with communities and contributing in ways that benefit both the economy and the environment. The brokerage firmly believes that businesses have a responsibility to give back and make a meaningful contribution beyond profit margins.

“We challenge the common misconception that businesses lack empathy or concern for society,” affirmed a VT Markets representative. “Corporate social responsibility isn’t an afterthought for us. It represents our ethos as a brokerage firm that prosperity should extend to communities and the environment.”

VT Markets’ sponsorship and donation initiatives aim to empower individuals and organisations striving to improve sectors such as education, healthcare, social welfare, and environmental conservation. The company plans to allocate at least millions over the next few years towards its CSR efforts. By providing this funding, VT Markets hopes these collaborations can impart lasting effects, foster meaningful relationships, and demonstrate that success in business means success for humanity.

VT Markets encourages organisations and charitable causes across the globe to contact the company’s CSR team to discuss partnership opportunities. The team will evaluate each application and determine how VT Markets can best support the most deserving causes.

For more information about VT Markets’ corporate social responsibility initiatives and partnership opportunities, please visit our website or contact the CSR team at media@vtmarkets.com 

About VT Markets:

VT Markets is a global multi-asset broker, providing access to a wide range of financial markets for traders and investors worldwide. With a strong commitment to innovation, technology, and client satisfaction, VT Markets offers competitive trading conditions, advanced trading platforms, and a comprehensive suite of educational resources. As a responsible corporate citizen, VT Markets is dedicated to making a positive impact on society through its corporate social responsibility initiatives.

For more information, please visit the official VT Markets website. Alternatively, follow VT Markets on Meta, Instagram, or LinkedIn.

For media enquiries and sponsorship opportunities, please email media@vtmarkets.com 

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

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As we kick off a new week, market watchers will focus on two key events: the release of the Federal Open Market Committee (FOMC) meeting minutes and the US jobs reports. Both have the potential to influence market trends significantly and offer vital insights into the health of the US economy.

Switzerland’s Consumer Price Index (3 July 2023)

Switzerland’s CPI increased by 0.30% in May 2023 from the previous month. 

For June 2023 data, which is set to be released on 3 July, analysts expect a 0.2% increase.

ISM Manufacturing PMI (3 July 2023)

The US ISM Manufacturing PMI fell to 46.9 in May of 2023 from 47.1 in April. 

Analysts predict that for June 2023 data, scheduled for release on July 3rd, the index will be at 48.

Reserve Bank of Australia Rate Statement (4 July 2023)

The RBA unexpectedly raised its cash rate to 4.1% in June, following a similar hike in May. The door remains open for further increases due to persistently high inflation and rising wage growth. 

The next cash rate will be released on 4 July 2023, with analysts expecting the central bank to hold its interest rate at 4.1%.

FOMC Meeting Minutes (5 July 2023)

Fed Chair Powell stated that multiple rate hikes are anticipated this year to combat inflation. The Fed has already raised the policy rate by 5 points since last year, impacting areas like housing and investment. 

While the funds rate target remained the same in June, there could be a rise to 5.6% by year-end if economic and inflation rates don’t decelerate.

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US ISM Services PMI (6 July 2023)

The US ISM Services PMI fell to 50.3 in May 2023 from 51.9 in April, pointing to the fifth consecutive month of expansion in the services sector, but the slowest in the current sequence. 

Data for June 2023 is scheduled for release on 6 July 2023, with analysts anticipating a higher figure of 50.

Canada Employment Change (7 July 2023)

The Canadian economy shed 17.3K jobs in May 2023, the first decline in nine months.The unemployment rate rose to 5.2% after remaining at 5% for the five previous months, the first monthly increase in the unemployment rate since August 2022. 

Analysts predict the June 2023 data, due on 7 July 2023, will show a further job loss of 10,000 and a rise in the unemployment rate to 5.4%.

US Jobs Report (7 July 2023)

The US economy unexpectedly added 339K jobs in May 2023, the most in four months. Concurrently, the unemployment rate increased to 3.7% in May 2023, the highest since October 2022.

Analysts predict that for June 2023, set to be released on 7 July, the Non-Farm Employment will add approximately 250k jobs, with the unemployment rate remaining steady at 3.7%.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.