US celebrates July 4 ahead of jobs data

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Greetings and a warm welcome to the start of another productive week.

July has arrived, signaling the moment for the United States to commemorate its freedom on the fourth day, resulting in the closure of Wall Street. However, the nation's financial markets will resume operations towards the end of the week as they eagerly await the arrival of non-farm payrolls data.

The upcoming publication will play a vital role in the Federal Reserve's discussions before it decides on the interest rates in July. It is anticipated that the employment growth in the United States may have decreased in June, following two surprising consecutive months of growth. These unexpected increases have supported the argument for the Fed to keep raising interest rates throughout this year.

The potential invalidation of Microsoft's $75 billion purchase of Activision Blizzard may occur this week if the Federal Trade Commission receives a favorable ruling from last week's court hearing in San Francisco. We can expect the court's decision as early as Monday.

Nevertheless, in the event that the FTC fails to succeed in its lawsuit, consequently jeopardizing another legal proceeding in an adjudicative court, the sole governing body that would impede the agreement would be the Competition and Markets Authority of the United Kingdom.

In the meantime, the CMA is set to grab headlines on Monday as it unveils the findings of its extensive inquiry into whether fuel sales are subject to unjustifiable profit margins by supermarkets and other retailers.

On Wednesday, the NHS, which is the healthcare system in the UK that is funded by the government, will be turning 75 years old. Instead of indulging excessively in cake to celebrate this milestone, it may be more beneficial to read the FT books essay that discusses the likelihood of the institution's long-term existence.

Feel free to express your opinions regarding the upcoming week. You can send an email to [email protected], or simply click on the reply button if you are reading this from your email.

Those keeping an eye on the Federal Reserve will receive the minutes from the most recent meeting to analyze on Tuesday, while the purchasing managers' index data will be the other notable event of the week. These figures will offer insights into the comparative performance of major economies, including the G7 countries. The manufacturing statistics will be released on Monday, followed by the services data on Wednesday.

This week's earnings reports are centered around the retail sector once more.

Sainsbury's, one of the major grocery stores, faced criticism last week for allegedly making excessive profits from rising food prices. The company will now be sharing a trading statement to keep investors informed.

AO World, an internet-based seller of electrical products, will release its annual financial results. The company has recently entered into a significant partnership with Frasers Group, headed by Mike Ashley.

BioNTech is set to appear in court on Monday to counter a legal suit brought forth by a German individual, who claims to have suffered vision impairment as a result of the side effects of the Covid-19 vaccine produced by the company. This case is just one among numerous compensation claims related to Covid-19 that have been filed in Germany. A separate court hearing in Hamburg, pertaining to a different case, was unexpectedly postponed on June 12.

Important Reports On The Economy And Business

Here is a more comprehensive compilation of what you can anticipate regarding company reports and economic data throughout the upcoming week.

Steve Murrells assumes the role of chief executive at Hilton Foods Group, taking over from Philip Heffer as he departs from the position.

Canada: stock exchanges shut down to commemorate Canada Day

China, the European Union, France, Germany, India, Italy, Japan, the United Kingdom, and the United States are all monitored by the S&P Global/Sips/Caixin manufacturing purchasing managers' index (PMI).

United Kingdom: Analysis of the road fuel market by the Competition and Markets Authority.

United States: statistics on monthly expenditures in the construction industry.

Australia: Goal for the cash rate target set by the Reserve Bank of Australia

US: Trading halted for Fourth of July festivities

Outcomes: Cairn Homes first-half trading announcement, Sainsbury's first quarter trading account

Megan Greene has been appointed as a new member of the monetary policy committee at the Bank of England. She takes over from Silvana Tenreyro in this external role.

for manufacturing and services sectors indicate strong growth in February. The data shows that these economies are experiencing a significant uptick in economic activity.

US: The Federal Open Market Committee releases minutes from their June meeting. Additionally, data on factory orders for the month is being published.

Outcomes: AO World's financial year results, Foxconn's sales data for the month of June, Redde Northgate's financial year outcomes, Topps Tiles' trading statement for the 3rd quarter.

Helen Miles takes on the role of Severn Trent's chief financial officer after the water company's yearly gathering, replacing James Bowling.

Germany: data on orders received by factories

United Kingdom: S&P Global/Sips index that measures the purchasing activity in the construction sector.

US: S&P Global's procurement managers' index (PMI)

Outcomes: Bang & Olufsen's financial year, Currys' financial year, Jet2's financial year, Levi Strauss & Co's first quarter, Naked Wines' financial year, Persimmon's trading statement, Robert Walters' trading update for the second quarter, Victrex's trading statement for the third quarter, Workspace's trading update for the first quarter and annual general meeting.

Christine Lagarde, the president of the European Central Bank, participates in a discussion called "Where are the women?" during the 23rd Les Rencontres Economiques d'Aix-en-Provence 2023 in Aix-en-Provence. Andrew Bailey, the governor of the Bank of England, also presents at the same event on Sunday.

Luis de Guindos, the Vice-President of the European Central Bank (ECB), delivers a main speech at the seminar titled "Understanding Inflation in Politics and Economics" held at King's College London.

Liontrust Asset Management convenes an Extraordinary General Meeting (EGM) where stakeholders will determine the fate of its purchase of Swiss competitor GAM. In May, GAM's shareholders expressed their support for the acquisition.

Thyssenkrupp Nucera enters the Frankfurt stock exchange for the first time.

Canada: June employment survey The country of Canada recently released its latest report on the job market, known as the June labour force survey. This report provides valuable information on the state of employment and unemployment in Canada during the month of June. The June employment survey examines various aspects of the labour force, including the number of employed individuals, the unemployment rate, and changes in employment by industry. It serves as an important tool for policymakers, economists, and job seekers to understand and analyze the current job market dynamics in Canada. One key finding from the June labour force survey is the overall increase in employment in Canada. The survey reveals that more individuals were able to secure employment during the month, resulting in a higher number of people being employed compared to the previous period. This is certainly encouraging news, as it indicates positive growth in the job market. Additionally, the survey sheds light on changes in employment across different industries. It provides a breakdown of the sectors that experienced the most employment growth, as well as those that faced a decline. This information can be helpful for individuals seeking employment in specific industries, as they can identify sectors with higher job opportunities and tailor their job search accordingly. Moreover, the survey also highlights the unemployment rate, which provides insights into the proportion of the labour force that is actively seeking employment but unable to find it. This rate can fluctuate based on various factors, such as economic conditions and government policies. Keeping track of the unemployment rate enables policymakers and economists to assess the health of the job market and make informed decisions to support job creation initiatives. In conclusion, the June labour force survey plays an essential role in evaluating the Canadian job market. It offers valuable insights into employment trends, industry-specific changes, and the overall unemployment rate. By analyzing this data, stakeholders can gain a better understanding of the current employment landscape and make informed decisions to support economic growth and job creation in Canada.

Germany: measure of manufacturing output

Japan recently released its latest labour force survey, which provides valuable insights into the state of the country's workforce. The survey offers important information about employment rates, work patterns, and key trends in the job market. This data is crucial for policymakers, businesses, and social researchers who are interested in understanding and addressing labour issues in Japan. The survey examines various aspects of the labour force, such as employment status, industry distribution, and educational attainment of workers. It also highlights changes in the number of people actively seeking employment, known as the labour force participation rate. By analyzing this data, researchers can better comprehend the country's employment dynamics and the factors that affect participation in the workforce. The survey reveals interesting findings regarding the employment landscape in Japan. It indicates shifts in employment patterns, such as the increasing number of non-regular workers in the workforce. This trend may be attributed to various factors, including the growing gig economy and changes in the way companies hire employees. Additionally, the survey identifies disparities in employment opportunities among different age groups and regions, shedding light on where concerted efforts are needed to promote equal access to job opportunities across Japan. However, it is important to interpret these survey results cautiously. The data collected represents a snapshot of the workforce at a specific point in time and may not capture the full complexity of the labour market. Therefore, it is crucial to continually monitor trends and patterns over time to develop more comprehensive and accurate assessments. Overall, the labour force survey provides valuable insights into the dynamics and trends of employment in Japan. It serves as a crucial tool for policymakers, businesses, and researchers, enabling them to make informed decisions and drive positive changes in the labour market. By harnessing the information provided by this survey, Japan can work towards creating a more inclusive and thriving workforce for its citizens.

United Kingdom: The Halifax House Price Index has been released along with the Office for National Statistics' analysis of the first quarter productivity figures.

USA: June job market participation and non-agricultural wage information

Outcomes: MJ Gleeson latest report on their trade performance.

Lastly, let's go over the various happenings and significant achievements that took place throughout this week.

In the United Kingdom, the public accounts committee of the parliament convenes a session to gather evidence regarding the availability of immediate and critical healthcare services in the NHS. This committee had previously declared that the initial year of a three-year strategy to restore these facilities was not meeting its intended objectives.

UK: The distinguished British tennis tournament, Wimbledon, kicks off in the city of London.

UK's Prime Minister, Rishi Sunak, responds to queries from the parliament's liaison committee, tasked with examining the government's efficiency. On the other hand, Sir Keir Starmer, the leader of the opposition Labour Party, speaks at the annual conference of the Local Government Association held in Bournemouth.

Celebrating three quarters of a century since the establishment of the United Kingdom's National Health Service (NHS)

UK: The second coronation of King Charles and Queen Camilla will take place in Scotland during a significant event called the Service of Dedication and Thanksgiving. Meanwhile, in England, educators belonging to the National Education Union will recommence their strike efforts demanding better compensation. Furthermore, they have another strike scheduled for Friday.

Switzerland: The International Telecommunication Union, a United Nations technological agency, is holding a two-day conference called AI for Global Good in Geneva. The purpose of this summit is to promote the development of artificial intelligence (AI) in order to expedite the accomplishment of the United Nations' sustainable development goals.

In Spain, the famous tradition of the Running of the Bulls takes place during the festivities of San Fermin in the city of Pamplona.

In the United Kingdom, the General Synod of the Church of England is all set to convene at York University for a span of five days. This gathering serves as the primary decision-making body within the institution. The key matters to be debated during this meeting include the contentious topic of same-sex marriage blessings as well as a comprehensive report on the pressing issue of climate change. Additionally, the church's national investing bodies will also present their findings in this regard.

Japan: Commemorating the tragic day of former Prime Minister Shinzo Abe's killing

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