Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports

<img src="https://fxopen.com/blog/en/content/images/2023/07/economic-calendar.jpg" alt="Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports" /><p><br>The Reserve Bank of Australia will announce its interest rate decision on Tuesday (07:30). The consensus is an increase of 25 bps to 4.35%. However, it’s worth remembering that the market expected the same rate hike at the beginning of July when the central bank surprised participants by keeping the rate unchanged. Last time, AUD plunged but quickly recovered. Will the scenario repeat itself this time? </p><figure><img src="https://lh6.googleusercontent.com/nYUceBK311nOcOy_scs85z7o4YQcLUc9vflIHHY2aGb5Fj0xkcHh3gJ36j1O92nhp-PAXx1cIQfmNTkS-8KmygMWqS5KTlbdGdmrqPAA5FtSj5JrD83wEGZIwBYE600Wwfl5WbU2vfFCr4BDzEHoanM" alt="Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports" loading="lazy" /></figure><p>The British pound has been weakening against the euro and US dollar since the middle of July. Although the long-term outlook for GBP is optimistic, shorter-term movements are a subject of concern. The Bank of England is expected to raise the interest rate by 25 bps on Thursday (14:00). Will it push GBP up, or is the event already priced in? </p><figure><img src="https://lh5.googleusercontent.com/KmQOigBT4qBvjKEpusJRhY21tA2FNXZWCnpOnNFvZNJqZMftmRa7VQiR8A-_YfBp73YdzBicNVAyUatcpudP1lyn8mnGC7cbuA4_HQrzi0CkI9xLkIGnd1ymWituY8BCWYwoVaPH5X2RetCJrOGa-T4" alt="Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports" loading="lazy" /></figure><p>On Friday (15:30), the US will release Non-Farm payrolls and unemployment rate reports. According to forecasts, the unemployment rate will remain unchanged, while the NFP figure may decline compared to the previous month. The release may cause increased volatility as recently, Mr Powell hinted at the possibility of another rate hike in September. </p><figure><img src="https://lh4.googleusercontent.com/NxoQJXLP-0P3UxEYlG0WdSC7-oq0u74xJaO0EmcmRsv9ZZIlxLcRuVkHyVlzXJ-_aUDlYEvEFIPCMfzmPzOXlqRYnNrhp5u5HzLGM52PefQfRTCfLXw8gJTmzD4DWCasjPQz77zlaJM_VqKYurjQBOI" alt="Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports" loading="lazy" /></figure><p>As we approach the midpoint of the second quarter earnings season, approximately half of the S&amp;P 500 companies have already submitted their reports. Earnings are showing a decline for the third consecutive quarter, but the index is up 19% for the year. This week the focus will be on quarterly reports from Apple and Amazon. </p><figure><img src="https://lh3.googleusercontent.com/SeDNJPOHfqhehbZ4LZ_UPtkCbsymsKtIYYJCBi28tPmpIgG6xyl3Goi2VuiziqBBSiFu3Q1DVQXqYyRSEYbgGJ5-3NrmKcnfpSz7vqoG-uhApGQzA03lEBrcKI4xP-kYOCKrTRkspSIYD_M0HVId9Xc" alt="Economic calendar for July 31 – August 4: RBA and BoE meetings, US employment data, and AMZN and AAPL reports" loading="lazy" /></figure><p>All times referenced are server time, GMT +3.</p>