Morning, Traders!
It is Monday the 3rd of July, a quiet day ahead of Independence Day tomorrow.
Here are some things to look out for today.
Sentiment
As traders anticipated US industrial statistics for hints on the state of the economy and the Federal Reserve's interest-rate stance, the dollar moved higher.
The manufacturing PMI in Germany, Italy, and the wider eurozone dipped more than anticipated, supporting the idea that price-growth pressures are easing in the area and causing a decline in the value of the single currency in Europe.
The world's two largest economies are attempting to heal relations following a string of bilateral conflicts, and US Treasury Secretary Yellen will visit Beijing from July 6 to 9. She will be the second member of Joe Biden's cabinet to visit Beijing in recent weeks.
At a time when the consumer sector is already slowing, the US Supreme Court's decision to reject President Biden's student loan relief plan is expected to have a negative impact on consumer spending.
Docket
9:45 AM ET
US S&P Manufacturing PMI June Final
Median Forecast: 46.3 | Prior: 46.3 | Range: 46.6 / 46.3
10:00 AM ET
US ISM Manufacturing PMI for June
Median Forecast: 47.2 | Prior: 46.9 | Prior: 49 / 46.5
11:30 AM ET
US sells $65 bln 3-Month Bills
US sells $58 bln 6-Month Bills
Good luck today!
