PMI/ISM data, construction spending, FOMC meeting minutes and coronavirus cases

Author: Greg Michalowski | Category: News

Major events and releases for the day

With the ADP employment change out of the way, the economic calendar includes:
  • Markit US manufacturing PMI for June will be released at 9:45 AM ET/1345 GMT with a 49.6 estimate vs. 49.6 last month
  • ISM manufacturing for June will be released at 10 AM ET/1400 GMT with a estimate of 49.7 vs. 43.1 last month. New orders are expected to rise to 51.9 from 31.8. Prices paid expected to rise to 44.6 from 40.8. The employment component came in at 32.1 last month
  • US construction spending will also be released at 10 AM ET/1400 GMT. The estimate is for 1.0% gain vs. -2.9% last month
  • Department of Energy inventory data for the current week is expected to show crude oil inventories falling by -500 K vs. a build of 1442K last week
  • the FOMC meeting minutes will be released at 2 PM ET/1800 GMT
Also pay attention to the Florida numbers today. Last week the case count rose by 5.3% vs. 3.6% 7 day average.  California and Texas posted new infection records yesterday. With Texas reporting a record high 6900 new coronavirus cases and California reported a new record high of 8441.
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