Today, the news background is calm. At the moment, the majors are in the process of consolidation. Investors expect a number of important macroeconomic data to be published on Wednesday, July 12. There are 3 key events:
- Report on the labor market in the UK. Most experts expect the main indicators to deteriorate.
- The Fed's Chairman Yellen's speech before the US Congress. It should be recalled that last week the Bureau of Labor Statistics released a fairly optimistic report on the labor market. Yellen's comments may strengthen expectations regarding another increase in the interest rate this year.
- Meeting of the Bank of Canada. At the moment, most experts believe that the regulator will raise the key interest rate by 25 basis points to 0.75%.
In the Asian trading session, the quotations of "black gold" showed a positive trend. At the moment, futures for WTI crude oil are being traded above $44.00 per barrel.
Market Indicators
Yesterday, the major US stock indices showed mixed results: SPY (NYSE:SPY) (+0.11%), DIA (-0.03%), QQQ (NASDAQ:QQQ) (+0.65%).
The 10-Year US government bonds yield is close to monthly highs (2.38-2.39%).
The publication of important economic reports is not planned today
At the same time, we recommend you to pay attention to the following events:
- Speeches by representatives of the Bank of England Haldane and Broadbent – 12:00 (GMT+3:00) and 14:00 (GMT+3:00), respectively
- The volume of new homes construction in Canada – 15:15 (GMT+3:00)
- The number of open jobs in the JOLTS labor market – 17:00 (GMT+3:00).
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