What to Watch in the Day Ahead - Tuesday, July 7
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Data from the U.S. Commerce Department is expected to show the trade gap widening to $42.6 billion in May from $40.9 billion in April when a temporary drop in imports shrunk the deficit. A wider deficit does not bode well for hopes that the U.S. economy was stronger in the second quarter. A stronger dollar has slowed foreign demand for U.S. goods, while imports have gone up. (0830/1230) Also, the Labor Department issues its Job Openings and Labor Turnover Survey for May. (1000/1400) Euro zone leaders meet to decide what to do about Greece after its voters rejected bailout terms. Do they try to find a new deal or start cutting Greece out of the bloc by curbing the euro liquidity on which its shuttered banks depend? Canada's trade deficit is forecast to have narrowed in May after hitting a near record the month before. Analysts will be looking at the report for further insight as to how the economy fared in the second quarter after growth unexpectedly shrank in April, boding poorly for the quarter. Iranian Foreign Minister Mohamed Javad Zarif is expected to meet the foreign ministers of Britain, China, France, Germany, Russia and the United States again to discuss a nuclear deal between Tehran and the six world powers. A dispute over issues including a United Nations sanctions on Iran's ballistic missile program and a broader arms embargo held up a deal on Monday, the day before their latest self-imposed deadline. Annual TD Securities Energy Conference takes place in Calgary, coinciding with Stampede, a 10-day festival of rodeo, street parties and corporate entertainment in Canada's oil capital every July. Companies including Cenovus Energy Inc, Suncor Energy Inc, Canada Oil Sands Ltd, Crescent Point Energy Corp, Canada Natural Resources Ltd and Husky Energy Inc will be taking part in panel discussions and giving investment presentations. Inflation in Brazil, as measured by the IGP-DI price index, is expected to have increased 0.71 percent in June compared with a 0.40 percent increase in May. In a separate report, Mexico's June consumer confidence data will show if sentiment has continued a recovery from a recent low. (0900/1300) LIVECHAT: Macro view with Aurelija Augulyte, senior analyst/macro strategist, Global Strategy, Nordea Markets The euro has been fairly resilient as the Greece crisis comes to a head. How will it behave after the overwhelming 'NO' vote in last weekend's referendum? We take a look at the road ahead for other majors with Aurelija Augulyte, senior analyst and macro strategist at Nordea Markets. (0200/0600) We also take a look at the prognosis for the euro after the Greek referendum and other major currency pairs with Kathleen Brooks, analyst at Forex.com. (0500/0900) To join the Global Markets Forum, click here bit.ly/1kTxdKD French financial sector executives meet for an annual two-day conference. Speakers will include Bank of France Governor Christian Noyer, Societe Generale Chief Executive Frederic Oudea and Natixis CEO Laurent Mignon as well French Finance Minister Michel Sapin and European Union Economics Commissioner Pierre Moscovici. Noyer is due to speak about EU capital markets union at the conference. Oudea and Mignon are due to speak on a panel entitled "Intermediating: Building European Investment Banking Critical Mass." (Compiled by Hardik Vyas in Bengaluru; Editing by Kirti Pandey)
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