Weekly calendar 07/05-07/08

Weekly calendar 07/05-07/08

TUESDAY: The Bank of England’s biannual financial stability report should reveal how officials see Britain’s decision to eventually leave the European Union rippling through the U.K.’s financial system, a global banking hub. Investors will be listening closely to Bank of England Gov. Mark Carney’s related press conference for details on any new financial measures the central bank is considering to help shore up the shaken economy.

WEDNESDAY: Minutes from the Federal Reserve’s mid-June monetary policy meeting should give further insight into how policy makers made sense of May’s hiring slowdown. And while the meeting predated the Brexit referendum, the minutes should provide a better understanding of how Fed officials are weighing threats to the U.S. economy.

THURSDAY: Investors will be eyeing China’s foreign exchange reserves data for any signs businesses and individuals are rushing to move money offshore in response to a weak domestic economy, the uncertainties of Brexit and anticipation of a Fed rate increase. If the People’s Bank of China shows a large drawdown of reserves to cover cash flight and to prevent a weakening exchange rate, it would fuel market concern the world’s No. 2 economy is slowing faster than expected.

FRIDAY: The U.S. June employment report will prove whether May’s paltry showing of 38,000 net new jobs—compared with an average of 229,000 a month last year—was an anomaly or a sign of a broader hiring slowdown as the labor market approaches full employment. A critical indicator for the health of the U.S. economy, the jobs report could change investor expectations for a Fed rate increase, especially given its broad impact on everything from housing markets to consumer spending. Economists surveyed by The Wall Street Journal expect 162,000 new jobs for the month.

from WSJ