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 >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.