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July 27, 2026
Preview: Due August 7 - Canada August Employment - Another positive month, but tariffs a risk going forward
July 27, 2026 3:32 PM UTC
We expect Canadian employment to increase by 20k in July, a third straight gain, similar to June’s 18.2k though well below May’s 87.8k which was correcting preceding weakness. We expect unemployment to match June’s 6.5% but before rounding to fall to 6.451% from 6.498%.
U.S. June Durable Goods Orders - Restrained by seasonal adjustments and possibly prices
July 27, 2026 12:49 PM UTC
June durable goods orders with a 0.3% rise were well below expectations with a bounce in aircraft orders implied by Boeing data failing to show up in seasonally adjusted data while the ex transport gain of 0.6% was the slowest since January, though this may in part reflect easing price pressures.
U.S. June Durable Goods Orders - Restrained by seasonal adjustments and possibly prices
July 27, 2026 12:49 PM UTC
June durable goods orders with a 0.3% rise were well below expectations with a bounce in aircraft orders implied by Boeing data failing to show up in seasonally adjusted data while the ex transport gain of 0.6% was the slowest since January, though this may in part reflect easing price pressures.
Preview: Due July 28 - U.S. June Advance Goods Trade Balance - Deficit to correct lower, but remain large
July 27, 2026 12:08 PM UTC
We expect an advance June trade deficit of $100.8bn, down from $105.9bn in May which was the widest since a record pre-tariff deficit in March 2025, but still significantly above the deficits seen in the first four months of 2026.
Margin Call - Does Margin Debt Really Predict Market Crashes?
July 27, 2026 11:31 AM UTC
· US margin debt has reached USD1.5tn, the kind of huge round figure milestone that is always going to get a fair amount of attention, especially with the market focused on risk and valuations. Should this number be sounding the alarm? The balanced answer is probably partially, though i
IMM Commitment of Traders Reports w/e Jul 21
July 27, 2026 8:28 AM UTC
IMM data for w/e Jul 21 show some adds to EUR shorts, most since Feb though still limited
JPY shorts back towards the recent wides during $ haven week, range break
GBP shorts have been trimming during recent short squeeze / fading of political bets
Some signs that caught stale kiwi shorts covering in