A Quiet day for markets today with heavy data due towards the end of the week
In the Us today, Stanley Fischer is due to speak on the US economy in Stockholm this morning.
GBP
It is an important week for economic releases/ events. On Wednesday the UK labour market report is released. Markets expect Wednesdays data to reveal a further drop in the unemployment rate to a five and a half year low of 6.3 percent. At the same time, wage inflation is predicted to have stagnated further.
Also on Wednesday we have the UK inflation report. The key metric to watch in this report will be the Bank of England’s updated estimate of economic slack. Given the fall in the unemployment rate, markets expect this to be nudged down from Mays figures.
In the Euro area we have Q2 GDP data due on Thursday. Euro area GDP is predicted to have been flat, with risk of outright contraction.