Weekly News 06.07.2020–10.07.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade.

This week’s important events include US President’s meeting with his Mexican counterpart, the UK’s updated economic plan, and early elections in Singapore.


Economic Calendar

06.07 14:00 GMT 🇺🇸Non-Manufacturing ISM Report on Business (ISM) — EUR/USD ▼

07.07 14:00 GMT 🇺🇸Job Openings and Labor Turnover Survey (JOLTs) — EUR/USD ▼

08.07 14:30 GMT 🇺🇸Stocks of Crude Oil — USD/CAD ▲

10.07 12:30 GMT 🇺🇸Producer Price Index (PPI) — EUR/USD ▼


July 6. Google Reopens Offices

Google begins to reopen its offices on July 6. At first, the building occupancy will not exceed 10%. The company plans to reach 30% capacity in September.


July 8. UK’s New Economic Plan. Mexican’s President Visit to the US

British finance minister Rishi Sunak will announce an update to the economic management plan to fight the economic effect of the COVID-19 pandemic. Meanwhile, Prime Minister Boris Johnson has already called for accelerated investments in infrastructure and construction.

Mexican President Andres Manuel López Obrador will pay an official visit to the United States to meet with Donald Trump. The heads of state have lots of issues to discuss, from economic relations to illegal immigration.

Let’s remind you that NAFTA, a new trade agreement between the U.S., Mexico and Canada came into force on July 1.


July 9. Military Officials Testify Before US Congress

Top Pentagon officials are to testify before the US Committee on Armed Services on the military’s response over mass anti-racism protests.


July 10. Parliamentary Elections in Singapore

Early parliamentary elections will be held in Singapore on July 10. Due to the risk of the COVID-19 spread, the parties are not allowed to conduct campaigning offline. However, they will have more time to carry on campaign on local TV.

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