Fed minutes, Payrolls and ISM – USD
This article is originally referred from Orbex Market Preview.
The economic calendar is quite busy for the U.S. dollar which will see some of the key economic indicators being released over the week.
First off, on Monday the Institute of Supply Management (ISM) will be releasing the monthly manufacturing PMI figures for June.
Economists expect to see that manufacturing activity might have eased somewhat from the figures posted in May.
The projections are also somewhat similar for the ISM’s non-manufacturing PMI report.
Data is expected to show a modest slowdown in the non-manufacturing sector compared to the pace of activity that was registered in June.
The FOMC will also be releasing its meeting minutes this week.
The meeting minutes cover the Fed meeting that was held in June where interest rates were hiked by 25 basis points in a widely expected move.
The meeting minutes come at a time when officials had signaled an additional rate hike for the remainder of the year, bringing the pace of total rate hikes in 2018 to four.
Investors will be looking for clues from the Fed meeting minutes in order to project further rate hikes and also identify potential pitfalls that could derail the Fed’s anticipated pace of rate hikes.
Finally on Friday, the official payrolls report is expected to show a sub-200k pace of jobs being added to the economy.
The U.S. unemployment rate is expected to remain steady at 3.8% while wage growth is expected to rise at a steady pace of 0.3% on the month.
Original Source: Orbex Market Preview