Market movers today
A relatively light data calendar. The most interesting release is the ADP private employment report in the US that will give us some input on the direction of the important labour market report tomorrow, even though the ADP report's success in predicting the outcome of non-farm payrolls has admittedly been mixed.
Markit construction PMI in the UK might attract some attention. Data in the UK continue to exceed expectations. Although the construction PMI has eased a bit in recent months, it remains at a very high level suggesting buoyant construction activity.
Fed Chairwoman Janet Yellen is scheduled to deliver a Central Banking Lecture at the IMF headquarters in Washington at 17:00 CET.
At 15:00 CET Italian Prime Minister Matteo Renzi speaks to the European Parliament to preview Italy's EU presidency and we might get an idea to what degree Renzi will attempt to push for less fiscal austerity.
Iran and the major world powers will resume negotiations in Vienna about an agreement on Iran's nuclear programme. The negotiations have a 20 July deadline and a successful conclusion could ease some recent upward pressure on crude oil prices.
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