Thursday Is Going To Be A Big Day For Markets

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Photo: Library Of Congress

Wrap up your July 4 celebrating early tonight, if you’re in the United States, because Thursday is going to be a huge day for markets.In Europe, we’ll get decisions from both the Bank of England and the European Central Bank. Everybody thinks the BoE will do more QE, and there’s a widespread belief that the ECB will cut rates (probably by 25 basis points) though it’s hard to say, since the ECB is always unpredictable.

Then in the US there’s loads of economic data

  • The challenger layoff report at 7:30 AM ET
  • The ADP Jobs Report At 8:15 AM ET
  • Initial jobless claims at 8:30 AM ET
  • ISM Non-Manufacturing at 10:00 AM ET

The three labour numbers will be particularly closely watched, given that they come prior to Friday’s Non-Farm Payrolls report.

So as we said, stop partying early tonight. Tomorrow will be big.

For more on tomorrow’s big events, see here >

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