Housekeeping: Good Morning
Featured Analysis:
Bank of Korea Resumes Physical Gold Purchases After 13 Years
The Bank of Korea is resuming physical gold purchases after 13 years, using the Korea Exchange and Korea Securities Depository to buy export-bound domestic production. The program is expected to remain modest but creates a channel to expand bullion reserves and diversify the central bank’s dollar-heavy foreign assets over time.
In Other News:
Data on Deck: Unemployment
MONDAY, AUGUST 3
9:45a Final Manufacturing PMI (prev 53.8 → est 53.8)
10a ISM Manufacturing PMI (prev 53.3 → est 54.0)
10a ISM Manufacturing Prices (prev 73.0 → est 70.0)
10a Construction Spending m/m (prev 0.1% → est 0.2%)
10:15a Omdia Total Vehicle Sales (prev 16.5M → est 16.3M)
2p Loan Officer Survey
TUESDAY, AUGUST 4
10a JOLTS Job Openings (prev 7.59M → est 7.44M)
10a Factory Orders m/m (prev -1.3% → est 0.2%)
10:10a RCM/TIPP Economic Optimism (prev 45.5 → est 47.5)
8:15p FOMC Member Schmid Speaks
WEDNESDAY, AUGUST 5
8:15a ADP Non-Farm Employment Change (prev 98K → est 68K)
9:45a Final Services PMI (prev 53.6 → est 53.6)
10a ISM Services PMI (prev 54.0 → est 54.5)
4:05p FOMC Member Cook Speaks
8:35p FOMC Member Daly Speaks
THURSDAY, AUGUST 6
5:30a Challenger Job Cuts y/y (prev -4.5%)
8:30a Unemployment Claims (prev 197K → est 203K)
8:30a Prelim Nonfarm Productivity q/q (prev 0.8% → est 0.6%)
8:30a Prelim Unit Labor Costs q/q (prev 2.3% → est 2.2%)
5:30p FOMC Member Musalem Speaks
FRIDAY, AUGUST 7
8:30a Average Hourly Earnings m/m (prev 0.3% → est 0.3%)
8:30a Non-Farm Employment Change (prev 57K → est 85K)
8:30a Unemployment Rate (prev 4.2% → est 4.2%)
10a FOMC Member Barkin Speaks
3p Consumer Credit m/m (prev -0.2B → est 11.2B)
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