WEEK AHEAD: July 4th, Fed minutes, RBA meeting & still OPEC+

Preparing for trading markets over the next five days with the FlowBank Week ahead report:

The minutes  of the Fed’s June meeting, when officials opened talks on tapering bond-buying and indicated interest rate increases could come sooner than previously anticipated, are due to be released on Wednesday.

The minutes are coming on the heels of Friday’s nonfarm payrolls report, which showed that the U.S. created the most jobs  in 10 months in June, indicating that the economy closed out the second quarter with strong momentum as the reopening continued.

The robust data did little to ease concerns that a strong recovery and rising wages could prompt the Fed to begin unwinding its easy money policies sooner than expected.

That dynamic looks set to continue to weigh on markets ahead of the Fed’s July policy meeting and its annual meeting in Jackson Hole, Wyoming, in August.

CALENDAR

MONDAY

Earnings

N/A

Macro

US: Markets closed for Independence Day

Asia: China Caixin services PMI (June)

Europe: Eurozone services PMI (June, final), UK services PMI (June, final)

Monetary Policy

N/A

 

TUESDAY

Earnings

Ocado plc

Macro

Asia: RBA rate decision

Europe: German ZEW

US:

US ISM non-mfg PMI (June)

Monetary Policy

N/A

 

WEDNESDAY

Earnings

Aeon Co. Ltd

Macro

US: Canada Ivey PMI (June)

Monetary Policy

Atlanta Fed President Raphael Bostic at National Association of Black Journalists event

FOMC minutes

 

THURSDAY

Earnings

Tata consultancy

Macro

US: US initial jobless claims (w/e 3 July), US EIA crude oil inventories

Monetary Policy

N/A

 

FRIDAY

Earnings

Tryg A-S

Macro

Asia: China CPI (June)

Europe: UK trade balance (May)

US: Canada employment report (June)

Monetary Policy

N/A

 

 

Sources: Investing.com, CNBC

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