PriceAction Ltd. Market Report (June 27 – July 1) & Upcoming Events, July’22

Jun 27, 2022

Core Durable Goods Orders m/m (USD)

Durable Goods Orders in the US increased by 0.7%, or by $1.9 billion, on a monthly basis in May to $267.2 billion, published by the US Census Bureau on Monday.

AUD and NZD have turned down sharply (ALL)

AUD/USD, NZD/USD, EUR/USD, cable are all lower. USD/CAD is higher. More notably, yen crosses are getting hit as USD/JPY drops towards 134.50.

June 28, 2022

China Cut Quarantine Time (All)

Screenshot 40

Russia’s ‘deplorable’ attack on Ukraine (All)

At least 1,000 consumers were at the mall when a Russian missile hit, President Volodymyr Zelenskyy described as “one of the most disastrous terrorist attacks in European history”. Russian long-range bombers launched a missile into a mall in Kremenchuk, Poltava, killing 18 and injuring 59, the regional governor stated.

Consumer Confidence Falls (USD)

The Conference Board Consumer Confidence Index® decreased in June, following a decline in May. The Index fell to 98.7 (1985=100)—down 4.5 points from 103.2 in May—and now stands at its lowest level since February 2021 (Index, 95.2).

June 29, 2022

UK Shop Prices at Highest Since 2008 (GBP)

The British Retail Consortium (BRC) said on Wednesday that average prices among its members in early June were 3.1% higher than a year earlier, the biggest jump since September 2008 and speeding from May’s 2.8% rise.

Ex-BOJ Executive Speaks (JPY)

Ex-BOJ Executive Yamaoka: The BOJ may need to adjust the yield cap if inflation keeps overshooting forecasts, weakening Yen.

German State CPI (EUR)

The CPI’s annual rise was 10.2% in June, up 0.5 percentage points from May. The flash inflation index rises six tenths to 5.5%. HCPI flash indication is 10% annually.

Crude Inventory Declined (USD)

During the week ending June 24, 2022, U.S. crude oil refineries averaged 16.7 million barrels per day, 403,000 higher than the previous week. Last week, refineries ran at 95% capacity. Last week, 9.5 million barrels of gasoline were produced daily. Last week, distillate output averaged 5.1 million barrels per day.

June 30, 2022

$800 Million Weapons Aid to Ukraine: Biden Speaks (USD)

Latest ‘flash’ PMI™ data from S&P Global signaled the weakest upturn in US private sector output since January’s Omicron-induced slowdown in June.

US Consumer Fuels Recession Fears (USD)

US consumer expenditure has been revised considerably down during the first four months of the year, and May’s drop shows the economy’s trend is not favourable. Further interest rate hikes and a restriction on spending power would reduce GDP estimates and raise recession chances.

July 1, 2022

“One country, two systems”: Hong Kong President Speaks (HKD)

“One country, two systems” has been tried and proven, so there’s no need to alter it, President Xi Jinping said at the 25th anniversary of Hong Kong’s return to the motherland and the 6th term inauguration of the Hong Kong SAR administration on Friday.

Manufacturing PMI® at 53% (USD)

Economic activity in the manufacturing sector grew in June, with the overall economy achieving a 25th consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.


July 4, 2022

CPI m/m (GHF)

July 5, 2022

RBA Rate Statement (AUD)

July 6, 2022

JOLTS Job Openings (USD)

July 7, 2022

ADP Non-Farm Employment Change (USD)

FOMC Meeting Minutes (USD)

July 8, 2022

Unemployment Rate (CAD)

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Honour Osuwe

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Emmanuel Abiodun Stephen

Thank you for the update

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