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
