Here Are The Key Market Moving Events For Thursday, July 12

New Zealand Sun Pasture Farmer Dairy TractorDiane Henderson and her nephew ride the quad bike at a dairy farm in Morrinsville, New Zealand. A reading of the country’s business activity is scheduled for Wednesday.

Photo: Sandra Mu/Getty Images

Thursday is jobs day in the U.S., with initial unemployment claims expected at 8:30 a.m. Key monetary policy reports from South Korea and the ECB will drive markets overnight. Here’s what you need to know.

  • New Zealand starts things off at 6:30 p.m. on Wednesday evening with a reading of business PMI. There is no consensus for the June report, which previously read at 55.7.
  • The Bank of Korea will begin July’s monetary policy meeting at 8:00 p.m. The country’s repo-rate is expected to remain unchanged at 3.25 per cent when announced at 9:00 p.m.
  • Australian unemployment hits at 9:30 p.m. Consensus is for a 10 basis point increase in June to 5.2 per cent. 
  • Announcements go quiet until 1:30 a.m. on Thursday morning with French CPI. Consensus is for no sequential change, representing a 2.2 per cent year-on-year gain.
  • Indian industrial production will also be announced at 1:30 a.m., with forecasts for a 1.8 per cent year-on-year advance in May.
  • The European Central Bank will publish its monthly report at 4:00 a.m.
  • Eurozone industrial production follows at 5:00 a.m. Economists project production contracted 3.2 per cent compared to year-ago levels.
  • Irish first quarter GDP hits at 6:00 a.m. Expectations are for a 0.4 per cent decline.
  • Attention shifts to the U.S. at 8:30 a.m. with initial jobless claims, which are seen declining week-on-week to 370,000.
  • Also at 8:30 a.m.: U.S. import prices and Canadian new home prices. U.S. import prices are seen declining 1.8 per cent month-on-month in June, while Canadian home prices advance 0.2 per cent sequentially.
  • Mexican industrial production is scheduled for 9:00 a.m. Production is seen improving 3.3 per cent in May from one year ago, while remaining in line with April’s print.
  • Closing out the day at 2 p.m. is the U.S. monthly budget statement. Economists see it expanding to    -$60.0 billion from -$43.1 billion.

Below, the key earnings announcements scheduled for the day.

Fastenal (FAST): $0.37
Progressive (PGR): $0.27

Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.

SEE ALSO: Here’s What The World’s Biggest Companies Are Telling Us About The Economy >

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