mask All Eyes on Trade wars & FOMC minutes after a non-eventful European session

05/ 07/ 2018

All Eyes on Trade wars & FOMC minutes after a non-eventful European session

Daily Update - 5th May 2018

Yesterday’s market

  • EUR Markit PMI Composite (Jun),  Markit Services PMI (Jun)
  • GBP Markit Services PMI (Jun)

Yesterday’s focus

While the US treasury market was closed, 10yr treasury yields rose slightly, German 2yr bond yields rose and the June service and composite PMIs were positive along with the positive construction data that came out yesterday.

 

Today’s market

  • GBP BOE’s Governer Carney speech
  • EUR ECB’s Mersch Speech, German Buba President Weidmann Speech
  • USD FOMC Minutes, Markit services PMI (Jun), Initial jobless claims, continuing jobless claims

Today’s focus

US markets reopen from the national holiday and the economic calendar plays catch up. Of most interest should be jobless claims, June non-manufacturing sentiment, and the minutes of the FOMC’s 12-13 June meeting. The FOMC meeting will provide more detail on the decision to raise rates in June and plan for more.