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Economic Calendar This Week: COVID-19, Economic Data and US Politics in Focus

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The FX markets head into August showing a new dynamic, as the dollar downtrend appears to be driven by a new virus-related risk premium and other havens are outperforming. This week, US jobs data may disappoint, but markets will mostly look for a new hope on the US Phase IV stimulus package. Elsewhere, we expect the BoE and RBA to keep their stance unchanged.

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Below are the main economic data to be published next week along with expectations from the Monsun Asia.
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3 August 2020 – Monday

1) EZ Final Manufacturing PMI for July (16:00 Malaysia Time) — No prediction on revisions data.

2) UK Final Manufacturing PMI for July (16:30 Malaysia Time) — No prediction on revisions data.

3) US ISM Manufacturing PMI for July (22:00 Malaysia Time) — Bullish prediction — Empire State and Philly Fed Index printed stronger number.

4 August 2020 – Tuesday

1) Trade Balance for June (9:30 Malaysia Time) — Bullish prediction — The AIG Australian Performance of Manufacturing Index went up 2 points from the previous month.

2) RBA Cash Rate (12:30 Malaysia Time) — No prediction on central bank decision.

5 August 2020 – Wednesday

1) NZ Employment Change q/q for Q2 (6:45 Malaysia Time) — Bearish prediction — Labor data likely to be weaker as COVID hits NZ in Q2.

2) EZ Final Services PMI for July (16:00 Malaysia Time) — No prediction on revision data.

3) UK Final Services PMI for July (16:30 Malaysia Time) — No prediction on revision data.

4) EZ Retail Sales for June (17:00 Malaysia Time) — Bullish predition — Slightly better German and France spending numbers.

5) US ISM Non-Manufacturing PMI for July (22:00 Malaysia Time) — Will update after ISM Manufacturing data on Monday.

6 August 2020 — Thursday

1) BOE Official Bank Rate (19:00 Malaysia Time) — No prediction on central bank decision.

7 August 2020 — Friday

1) AU AIG Services Index for July (6:45 Malaysia Time) — Bullish prediction — The AIG Australian Performance of Manufacturing Index grow.

2) German Industrial Production for June (14:00 Malaysia Time) — Bullish prediction — Likely to be stronger given recovery in PMI manufacturing.

3) U.S. Employment Data for July (20:30 Malaysia Time) — No prediction on U.S. employment data.

3) Canada Employment Change for July (20:30 Malaysia Time) — No prediction on Canada’s employment data.

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⚠️ USE THESE DATA TO MANAGE YOUR TRADE AHEAD OF THE EVENT. NOT TO TRADE DURING NEWS RELEASE.

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