The market is awaiting statements from Finance Minister Rishi Sunak and data from the ISM Institute on Services in the US
On Tuesday, the statements of Fed member Lael Brainard about the recent rise in government bond yields were considered as the main event of the day. According to her, the speed of the situation development is attracting attention, and she will be concerned if there is a constant tightening of financial conditions, which might slow down the economic growth.
Today, Finance Minister Rishi Sunak will publish an annual budget plan according to which it is expected to support the fired British workers until the end of September. As the country is still in quarantine, the government will continue to pay 80% of the salaries to the program participants until the end of June, the Finance Ministry mentioned in a statement. But this benefit may decrease over the next three months.
There will be the publication of ISM data on the services sector in the United States. According to economists’ forecast, a slowdown is not expected. In this regard, as well as with the strong growth of the Australian economy, futures for stock indices are growing. The V-shaped recovery, which suddenly appeared in Australia, gives investors hope for a quick global recovery. As a result, stocks in Australia, China and Hong Kong were the leaders in growth in the Asian session, setting the pace for European and American futures.
S&P 500 (F) 3,890.62 +23.12 (+0.60%)
Dow Jones 31,391.52 -143.99 (-0.46%)
DAX 14,119.45 +79.65 (+0.57%)
FTSE 100 6,661.76 +48.01 (+0.73%)
USD Index 90.752 -0.038 (-0.04%)
News feed for: 2023.07.04
- Australia’s GDP (q4) at 2:30 (GMT+2);
- Eurozone Services PMI (Feb) at 11:00 (GMT+2);
- UK Services PMI (Feb) at 11:00 (GMT+2);
- ADP United States Nonfarm Employment Change (Feb) at 15:15 (GMT+2);
- US ISM NonManufacturing PMI (Feb) at 17:00 (GMT+2);
- US crude oil reserves at 17:30 (GMT+2).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
