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Previewing next week’s key macroeconomic events in the US, which includes the FOMC’s July meeting minutes, “at the July FOMC meeting the Committee did not initiate any new policy actions and changes to the statement were minor,” TD Securities analysts noted.

Key quotes

“While the Fed chairman did not provide any major details on the review or forward guidance, he did suggest that the review will “wrap up… in the near future.” We expect the minutes to provide additional color on how those discussions are evolving.”

“The Democratic National Convention will kick off the 2020 presidential election season, with the party officially selecting Joe Biden and Kamala Harris as its nominees for president and vice president. Andrew Cuomo, Bill Clinton, Nancy Pelosi and Barack Obama will be among the keynote speakers during the 4-day event. The Republican Convention will follow on 24-27 August.”