Weekly Outlook: Greece’s Impact

 

It’s a big week for report releases in financial and commodity markets with home index data, planted crop acreage and monthly job numbers released this week. However, the biggest impact might come from Greece, where banks are closed Monday after the European Central Bank said it will not extend an emergency loan program, and the country will likely miss a debt payment due to the IMF Tuesday.  The situation is already impacting FX markets.

 

Economic Calendar

Monday:

US: Pending Home Sales Index  10:00 AM ET

US: Dallas Fed Mfg Survey  10:30 AM ET

US: St Louis Federal Reserve Bank President James Bullard Speech  8:00 PM ET

 

Tuesday:

S&P Case-Shiller HPI 9:00 AM ET

Chicago PMI 9:45 AM ET

US: Consumer Confidence  10:00 AM ET

USDA Planted Acreage 11:00 AM CT

USDA Grain Stocks 11:00 AM CT

 

Wednesday:

Motor Vehicle Sales  8:00 AM ET

ADP Employment Report 8:15 AM ET

Construction Spending 10:00 AM ET

 

Thursday:

U.S. Employment Situation 8:30 AM ET

Jobless Claims 8:30 AM ET

Bloomberg Consumer Comfort Index 9:45 AM ET

Factory Orders 10:00 AM ET

 

Friday:

U.S. Markets closed for July 4 Holiday

 

Links:

Greece’s economy is effectively frozen (Bloomberg)

Is Greece’s situation factored into the markets? (Dash of Insight)

Puerto Rico says its debts are not payable (New York Times)

China cut interest rates to a record low (Bloomberg)

The sources of American income are changing (FT Alphaville)

For U.S. acreage estimates, weather is the name of the game (Corn & Soybean Digest)

Politico takes on Brussels (The Guardian)

The crude oil charts to watch now (Forbes)

More Americans are working outside an office (Quartz)

 

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