Analysts at Danske Bank point out that it will be a busy day in the US calendar: ahead of the non-farm report tomorrow, we get ADP employment figures today, which should show a healthy pace of private-sector hiring just short of 200,000.
Key Quotes
“Jobless claims will also be scrutinised closely by markets for any hints that employers are losing confidence in the economic outlook. We expect ISM non-manufacturing to ease slightly to 58.0 in June as a tightening labour market and heightened uncertainty from trade tariffs are taking its toll.”
“Today also brings FOMC meeting minutes . We do not expect much information from this, but it could be interesting if the Fed had discussions on when the balance sheet reduction should end as, at this point, it is still open-ended.”
“German factory orders for May are due out. After the surprisingly weak April print, it will be interesting to see whether we will see some recovery and to what degree rising global trade tensions continue to weigh on capital goods orders.”
“German Chancellor Angela Merkel will hold talks with UK PM Theresa May on how to move forward with the EU-Brexit negotiations. Merkel will also meet Hungarian PM Viktor Orban to discuss EU matters and, not least, migration policy.”
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