1. Investopedia's July 2012 Forex Outlook: Macroeconomic Highlights
  2. Investopedia's July 2012 Forex Outlook: Upcoming Events To Watch

July 1 – Japan's Tankan survey is one of the most important indicators of the country's economic health and a key determiner of monetary policy. Traders will be watching for continued improvement in the country's economy amid strong consumer spending and reconstruction.

July 2 – The U.S. and Germany will release key manufacturing data with the U.S. ISM Manufacturing Index and the German PMI Manufacturing Index. Traders will be looking for improvements over last period's 53.5 and 45.2 readings, respectively.

July 4 – Britain, Germany and the European Monetary Union will release PMI Services Index data, which provide a key gauge of the countries' service economies. Traders will be looking for signs of improvement beyond last period's 53.3, 51.8 and 46.7 readings, respectively.

July 5 – U.S. Jobless Claims will be released at 8:30am EST and foreshadow the next day's employment report. Meanwhile, the ADP Employment Report will come out shortly beforehand and traders will be looking for an improvement over last period's 133,000 figure.

July 6 – The U.S. Employment Report, one of the most-watched indicators in the market, will be released at 8:30am EST. Traders will be looking for an improvement over last period's 69,000 reading. Meanwhile, Britain's Producer Price Index (PPI) will be released during the overnight session and provide some key inflation data for the UK.

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July 12 – The European Monetary Union will release its Industrial Production report, outlining the physical output from factories, mines and utilities for the 16 member countries. Traders will be watching this figure closely for signs of improvement.

July 13 – Italy will release its Consumer Price Index (CPI), measuring the average consumer prices throughout the country. Traders will watch this index for signs of inflation or deflation, which could change the course of its recovery.

July 17 – Britain will release its Consumer Price Index (CPI), which traders will be closely watching as a precursor to potential stimulus from the Bank of England. Meanwhile, traders will also be focused on Bank of Japan MPB Minutes for hints of potential monetary policy changes.

July 18 – Britain will release its Labour Market Report, which will provide key insights into the health of its economy. Traders will be looking for any improvements following the country's lackluster jobless claims report last month.

July 24 – Germany and the European Monetary Union will release their PMI Services Index figures, providing insights into the health of their service economies. Meanwhile, Japanese Merchandise Trade figures will provide an important gauge of overall health.

July 29 – Japan will release its Industrial Production report, which will provide insights into its export health.

July 30 – The European Monetary Union will release its EC Economic Sentiment report, which provides a broad measure of business and consumer sentiment. Traders will be watching this report for any signs of improvement amid the eurozone's deteriorating situation.

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