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.

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.

This week, market participants prepare for important economic events such as the release of Canada’s Gross Domestic Product (GDP) and Consumer Price Index (CPI), in addition to Australia’s CPI.

Traders are anticipated to keep a close watch on these critical updates to tailor their strategies and acquire valuable knowledge about the financial markets.

Remember to stay updated with a summary of noteworthy developments.

Canada Consumer Price Index (27 June)

Canada’s CPI rose 0.7% in April 2023 compared to March 2023 figures. 

Analysts anticipate a 0.5% increase for May data, set to be released on 27 June.

Australia Consumer Price Index (28 June)

Australia’s CPI saw a 6.8% increase in the year leading up to April 2023, a rise from the 6.3% gain observed in the year ending in March 2023 – the lowest in 10 months. 

Analysts predict a slower growth of 6.4% for the data covering the year to May 2023, set for release on 28 June.

Stay tune for more Market Analysis with VT Markets

German Prelim Consumer Price Index (29 June)

CPI in Germany experienced a 0.10% decrease in May 2023 compared to the previous month, marking the first decline in five months. 

CPI data for June will be published on 29 June, with analysts predicting a 0.3% increase.

Canada Gross Domestic Product (30 June)

Canadian economy displayed no growth in March 2023, as service-producing industries stagnated and goods-producing industries saw a minor 0.1% decline. 

Analysts anticipate a 0.2% growth for April 2023 data, scheduled for release on June 30.

US Core PCE Price Index (30 June)

US Core PCE prices, excluding food and energy, experienced a 0.4% month-over-month increase in April 2023. 

The data for May 2023 is set to be released on 30 June, with analysts expecting 0.3% growth.

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, 19 June 2023 – Over a month into the campaign, the King of the Hill Trading Contest, organised by leading online trading platform VT Markets, has been a rousing success thus far. The contest, which began on 1 May 2023, has attracted over 200 participants from 14 countries worldwide, all competing for international recognition and a share of the whopping total prize pool of US$60,000.

Traders across Europe, Southeast Asia, and Greater China are competing to see who can grow the most profits and be the King of the Hill. As of writing, the Southeast Asia competition has the highest profit margins, with the competing traders racking up $7679.51 so far, compared to Europe’s $1249.17 and Greater China’s $3,283.45. Southeast Asia also has the highest profit rates of all the regions. Most profits have been generated through trading XAUUSD, GBPJPY, and BTCUSD, which have been the three most popular trading products at the contest’s halfway mark.

The King of the Hill Trading Contest, which is currently in its second iteration, will run until 31 July 2023, leaving a lot of time left for traders to outwork the competition. VT Markets believes that the competition’s success shows how far the competition has come, and how far it can still go.

“It’s very encouraging to know that this is just the second time we’ve held this contest, and yet, we already have many traders taking on the challenge to be the best,” said a company representative. “At VT Markets, we take a lot of pride in contests like this, which not only offer participants the opportunity to earn substantial rewards but also enable them to showcase their expertise while refining their trading skills on our platform.”

Outside of the cash prize pool, the top performers will also be featured on VT Markets’ Wall of Fame, allowing them to grow their influence and establish themselves among the world’s elite traders. The success of this contest serves as a testament to the growth and potential of the industry, and VT Markets looks forward to witnessing even more exceptional achievements in future competitions.

About the Company:

VT Markets is a regulated multi-asset broker with a presence in over 160 countries. Since its inception in 2015, the company has set out to make trading a simple and more accessible experience for everyone. As of today, VT Markets has emerged as one of the world’s top brokers, recently adding a haul of seven awards to its growing list of accolades.

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

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