Last weeks NFP was mixed and that led to some inconclusive price action particularly in Foreign Exchange but it does seem that the US$ has regained some of its footing.
July 04 delayed market holiday on Monday and a very light “second division” data week as well is likely to continue listless trading.
We do have the FOMC minutes as the stand out potential market mover and an opportunity for the FED to give some clarity as to the reasons for making the case for rate rises in 2022.
We do have UK numbers out on Friday and Sterling is struggling presently and will need some strong data t help it follow the US$ on to a stronger footing .
Commodities continue to imply that investors still have faith and are rebounding from the lows despite the Chinese saying they will sell 1% of their strategic copper holding , Chinese factory output is also slowing so demand is investor.
OPEC+ meeting didn’t go quite to plan as the UAE pushed back on plans to retain production curbs out for another 8 months .. the talks continue this week but both WTi and Brent remain supported.
Date | Country | Figures | Expected | Previous |
July 06 | EUR | Retail sales (YoY May) | 7.9% | 23.9% |
| USA | ISM Services PMI (Jun) | 63.5 | 64 |
July 07 | USD | FOMC Minutes |
|
|
| USA | API Crude Stocks |
| -8.153M |
July 08 | USA | Initial Jobless Claims | 355k | 364k |
| USA | Crude Oil Stocks |
| -6.718M |
July 09 | GBP | Manufacturing Production (MoM) | 1% | -0.3% |
| GBP | Industrial Production (MoM) | 1.5% | -1.3% |
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