Overview of important futures data and events next week

1. From July 29 to July 31 at 10:00, the State Council Information Office held a three-day series of press conferences on the theme of "Promoting High-quality Development". Shen Changyu, Director of the State Intellectual Property Office, Zhao Zenglian, Deputy Director of the General Administration of Customs, and Wang Dongwei, Deputy Minister of Finance, will attend to introduce the situation. Attention will be paid to whether relevant policies to stimulate the economy are mentioned.

2. USDA crop growth report at 4:00 on July 30. The latest weekly crop growth report released by USDA shows that the quality rate of US cotton increased by 8% month-on-month. And because the actual planting area of ​​US cotton is higher than market expectations, the abandonment rate has declined significantly, and the US cotton output is expected to rise. This week, the futures prices of Zhengzhou cotton and US cotton fell sharply. If the new USDA crop growth report shows that the quality rate of US cotton has increased again, cotton prices may come under pressure again.

3. At 09:30 on July 31, China released official manufacturing PMI and other data for July. According to the National Bureau of Statistics data for June, the manufacturing purchasing managers' index was 49.5%, the same as last month. From the perspective of output, my country's economy has maintained expansion overall, but the foundation for continued recovery still needs to be consolidated. Pay attention to whether the PMI data in July will continue to maintain.

4. At 11:00 on July 31, the Bank of Japan announced its interest rate decision and outlook report; at 14:30 on the same day, Bank of Japan Governor Kazuo Ueda held a monetary policy press conference. Previously, the market expected the Bank of Japan to raise interest rates, and paid attention to the final implementation of Japan's monetary policy.

5. July 31 (tbd) ITS/AmSpec/SGS will announce Malaysia's palm oil exports from July 1 to 31. Previous data showed that Malaysia's palm oil exports increased significantly from July 1 to 25. We will pay attention to whether the growth trend of Malaysia's palm oil exports can continue. If it continues to grow, it may be bullish for palm oil prices.

6. At 2:00 on August 1, the Federal Reserve announced its interest rate decision, and at 2:30, Federal Reserve Chairman Powell held a monetary policy press conference; at 5:30 on the same day, the Central Bank of Brazil announced its interest rate decision; at 19:00 on the same day, the Bank of England announced its interest rate decision, meeting minutes and monetary policy report. At present, the market generally expects the Federal Reserve to start cutting interest rates in September. Pay attention to whether the final interest rate decision will exceed expectations or whether Powell has unexpected remarks. At that time, the market conditions and sentiment may fluctuate violently.

7. August 1 (tbd) SPPOMA will release Malaysia's palm oil production data from July 1 to 31. SPPOMA data shows that from July 1 to 20, South Malaysia's palm oil production increased by 17.83% month-on-month. Pay attention to the subsequent changes in Malaysia's palm oil production. If the production continues to increase, it may suppress palm oil prices.

8. August 1 (tbd) OPEC+ will hold a ministerial meeting to review oil production policy. Pay attention to whether there are any adjustments and changes to the oil production policy.

9. USDA oilseed crushing report at 03:00 on August 2. The previous USDA oilseed crushing report showed that the US soybean crushing volume in May was 5.76 million tons, lower than the market expectation of 5.816 million tons. The US soybean oil production in May was 2.271 billion pounds, higher than the market expectation of 2.214 billion pounds.

10. At 20:30 on August 2, the seasonally adjusted non-farm payrolls and unemployment rate data for July in the United States will be released. Changes in the labor market have become a key factor in the Fed's decision to cut interest rates, and the market needs to pay close attention to non-farm and other employment-related data.

Article forwarded from: Jinshi Data