HomeContributorsFundamental AnalysisFOMC, ADP Payrolls And ISM In Focus

FOMC, ADP Payrolls And ISM In Focus

The markets were busy with lots of economic data on the tap. In the Eurozone, the flash inflation estimates showed that headline consumer prices increased 2.1% on the year ending June. This was above expectations and even the core inflation rate was seen to have increased 1.1% on the year.

On the downside, the preliminary GDP reports for the second quarter suggested that growth in the Eurozone expanded just 0.3%. This was slower than the 0.4% estimates and the rate of expansion from the previous quarter.

Canada’s monthly GDP figures showed a strong 0.5% increase on the month. The data beat estimates of a 0.3% increase.

In the U.S. trading session, the core PCE price index data showed a 0.1% increase on the month, matching estimates. Personal spending and income increased 0.4% respectively.

In the overnight trading session, the New Zealand employment data showed that the unemployment rate increased to 4.5% coming in above estimates of 4.4%. The quarterly employment change increased 0.5%.

Investors will be looking to a new trading month. The UK’s manufacturing PMI is on the tap this week with forecasts expected to show a modest reading of 54.2.

The U.S. trading session will see the release of the ADP private payrolls followed by the ISM’s manufacturing PMI. Manufacturing activity is expected to show a print of 59.2. Later in the afternoon, the FOMC will be releasing its monetary policy statement. No changes are expected at today’s meeting.

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