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Markets are heading into another important week of economic data, with inflation, manufacturing activity and the US labour market all set to shape expectations for interest rates and global growth. 🌍
Wednesday begins with the latest Eurozone Flash CPI report. Inflation is expected to remain elevated at 3.2%, raising fresh questions over whether the European Central Bank’s recent rate hike will be enough to bring price pressures under control. 🇪🇺
Attention then shifts to the US with the ISM Manufacturing PMI. The previous reading came in at 54.0, but ongoing tensions between the US and Iran continue to push up manufacturing costs and could weigh on business activity. 🏭
Thursday brings the closely watched US Non-Farm Payrolls report, released a day earlier than usual ahead of the 4 July public holiday. The previous report showed 172,000 new jobs added, while unemployment stood at 4.3%, making this a key release for expectations around future Federal Reserve policy. 📊
With inflation, manufacturing and employment all under the spotlight, currencies, indices and commodities could see increased volatility throughout the week. 👀
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