Week Ahead with FOMC Minutes, US Jobs Report, and Global Data Releases

Investors and economists are anxiously anticipating a raft of important releases that will influence market mood and provide insight into the status of the global economy as the new week gets underway. The major events of the forthcoming week are covered in-depth here, from the FOMC meeting minutes in the United States to numerous economic indicators and monetary policy choices globally. The FOMC meeting minutes scheduled for Wednesday will be the subject of intense attention in the US. Market players are eager to learn more about the direction of monetary policy at the Federal Reserve and any potential changes to interest rates. The US jobs report for June is the most important piece of economic statistics. Non-farm payrolls are predicted to climb by 200,000, which would be the slowest gain since December 2020. At the same time, it’s expected that the jobless rate will remain unchanged at a seven-month high of 3.7%. Investors will also pay special attention to the results of the ISM PMI surveys, which are predicted to show a little rise in service sector activity but a decrease in manufacturing output.

NewsOTG gathered that a number of other Americas nations, including the United States, will also disclose significant economic data. Brazil will report on industrial output and international trade, Mexico will present inflation data along with updates on business and consumer mood, and Canada will present employment numbers and trade balance information. Focus now shifts to producer prices in the Euro Area, which could decrease for the first time in two years. Due to persistent problems in the region’s consumer sector, retail sales are predicted to remain weak. The greatest economy in Europe will be revealed with the release of vital data from Germany on foreign trade, industrial production, and factory orders for May. Additionally, numerous economic statistics will be released by nations including France, Italy, Spain, Switzerland, and Turkey.

The National Bank of Poland is anticipated to retain its main interest rate at a 20-year high of 6.75% in terms of monetary policy. S&P Global PMI data for Europe will show how Spain and Italy’s manufacturing and services sectors are doing. The UK’s economic calendar is rather light this week, with final S&P Global PMI readings, Halifax home prices, and new car sales on the schedule. With regard to the Asia-Pacific area, the Reserve Bank of Australia is anticipated to maintain its cash rate at 4.1% after a surprise rate increase at the last meeting. Along with the Ai Group Industry index for June, Australia will also present data on the country’s trade balance and credit for May.
The broad Caixin PMI statistics in China will give important clues about the nation’s economic recovery and the potential for government stimulus measures. Investors in Japan are eagerly awaiting the Tankan Large Manufacturers index for the second quarter, which provides a window into the state of the economy. While South Korea, the Philippines, and Indonesia will issue inflation gauges, trade numbers, and other crucial economic indicators, India’s PMI data for June is anticipated to show another month of strong growth. Market participants and experts will closely follow these developments throughout the week, studying the effects on different industries and gauging the state of the global economy as a whole.