EUROPEAN SESSION

In the European session, we get the Flash PMIs for the major Eurozone economies and the UK. The data is unlikely to change anything for the respective central banks as they remain more focused on inflation data. The market might ignore the PMIs too unless we get big deviations as the attention stays on US-Iran developments. 

AMERICAN SESSION

In the American session, we have the US Flash PMIs. Again, the data is unlikely to change anything for the Fed at this point. The Fed is expected to hold rates steady at the upcoming meeting in July, but there are some worries that hawkish members might convince the majority to deliver an insurance hike. I think that’s unlikely, but if it were to happen, we can expect some major pain in the market.

CENTRAL BANK SPEAKERS

• 15:30 GMT/11:30 ET – ECB’s Lane (neutral – voter)

This article was written by Giuseppe Dellamotta at investinglive.com.