Here Are The Key Market Moving Events For Thursday, July 12 (FAST, PGR)

By admin on July 12, 2012

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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 percent 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 percent.
Announcements go quiet until 1:30 a.m. on Thursday morning with French CPI. Consensus is for no sequential change, representing a 2.2 percent year-on-year gain.
Indian industrial production will also be announced at 1:30 a.m., with forecasts for a 1.8 percent 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 percent compared to year-ago levels.
Irish first quarter GDP hits at 6:00 a.m. Expectations are for a 0.4 percent 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 percent month-on-month in June, while Canadian home prices advance 0.2 percent sequentially.
Mexican industrial production is scheduled for 9:00 a.m. Production is seen improving 3.3 percent 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.