US: Focus on FOMC Minutes and manufacturing PMI – TDS

FOMC Minutes for the June meeting will be released at 14:00 ET and analysts at TD Securities are looking for an optimistic tone on-balance, in line with the upbeat economic outlook from the policy statement.

Key Quotes

“ADP employment is out at 8:15 ET ahead of Friday's payroll report and the market looks for a slight pickup in job growth to 190k, while initial jobless claims are expected to edge lower to 225k for the week of June 30.”

“ISM Non-Manufacturing PMI will round out the data calendar and the market consensus is for the index to edge lower to 58.3.”