A relatively light data calendar. The most interesting release is the ADP privateemployment report in the US that will give us some input on the direction of theimportant labour market report tomorrow, even though the ADP report’s success inpredicting the outcome of non-farm payrolls has admittedly been mixed.
Markit construction PMI in the UK might attract some attention. Data in the UKcontinue to exceed expectations. Although the construction PMI has eased a bit inrecent months, it remains at a very high level suggesting buoyant constructionactivity.
Fed Chairwoman Janet Yellen is scheduled to deliver a Central Banking Lectureat the IMF headquarters in Washington at 17:00 CET.
At 15:00 CET Italian Prime Minister Matteo Renzi speaks to the EuropeanParliament to preview Italy’s EU presidency and we might get an idea to what degreeRenzi will attempt to push for less fiscal austerity.
Iran and the major world powers will resume negotiations in Vienna about anagreement on Iran’s nuclear programme. The negotiations have a 20 July deadline anda successful conclusion could ease some recent upward pressure on crude oil prices.
Read the full report: FX Daily