Many Asian countries were on holidays, therefore volume on the market was rather limited. Additionally there was no important data during Asian session and further calendar looks rather poor. Despite that we have some events worth to look:
08:30 Sweden - Interest rate decision (cons.: -0,5%; prior: -0,5%) - it seems that Riksbank will keep interest rates unchanged during today’s meeting. Recent depreciation of Swedish krone means that Riksbank doen not need to be in any rush to ease further and can observe any moves from BoE and ECB. There will be also a speech from Skingsley.
13:30 USA - Trade balance from May (cons.: -$40,00b; prior: -$37,40b) - trade balance data was better than expected recently which makes negative contribution to GDP much smaller. Better data will be obviously positive for the US dollar
13:30 Canada - Trade balance from May (cons.: -2,70b; prior: -2,94b) - Canada still struggles with low oil prices which makes exports weak. On the other hand Canada shifts to non-oil exporter country.
14:45 USA - Services PMI from June (cons.: 51,5; prior: 51,3)
15:00 USA - ISM Non-Manufacturing from June (cons.: 53,3; prior: 52,9) - this will be a key data today, especially employment subindex ahead of Friday’s labour report from June.
19:00 USA - FOMC minutes - many Fed bankers lowered their expectations for interest rate hikes, so their talks still matter, despite Brexit risks. The key will be their view on the US economy. Lowered long term rate may mean that bankers believe that economy’s potential growth had dropped significantly, even before Brexit vote.
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