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Wednesday preview: Fed meeting minutes, US services PMI in focus

Tue, 5th Jul 2022 17:06

(Sharecast News) - All eyes on Wednesday will be on the minutes of the US central bank's last policy meeting and any information that can be gleaned from them regarding the outlook for monetary policy.

In particular, economists at Barclays Research told clients that they would be looking for clues as to just which variables the Federal Open Market Committee would be weighing to decide whether to hike interest rates by 50 or 75 basis points at their next meeting.

They would also be looking for indications as to just how much softening in demand, since June, would be considered compatible with expectations and just how exactly they would weight their two mandates once a restrictive policy stance had been reached, should inflation prove more stubborn than anticipated, although additional clarity on the latter was thought to be unlikely.

Also due out are the Institute for Supply Management's services sector Purchasing Managers' Index for June and the Department of Labor's JOLTS labour market survey data for May.

Across the Channel meanwhile, the session's main data release will be a reading for German factory orders in May.

Eurozone-wide retail sales figures for the same month may also prove to be a talking point.

In the UK meanwhile, at 0930 BST, S&P Global will publish the results of its UK Construction sector PMI, also covering the month of June.

Overnight, the People's Bank of China is scheduled to release its foreign reserve statistics for June.

Wednesday 6 July


Enteq Technologies, D4T4 Solutions, Zoo Digital Group, Redde Northgate, ActiveOps, Argentex Group


Robert Walters


Ten Entertainment Group


Assura, Mining, Minerals & Metals, Sirius Real Estate Ltd., Worldwide Healthcare Trust


Balfour Beatty


Britvic, Hollywood Bowl Group


PMI Construction (09:30)


Factory Orders (GER) (07:00)

Retail Sales (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

PMI Composite (US) (14:45)

PMI Services (US) (14:45)

ISM Prices Paid (US) (15:00)

ISM Services (US) (15:00)

Crude Oil Inventories (US) (15:30)

FOMC Interest Rate Minutes (US) (19:00)

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