Investing.com – Here's a preview of the top 3 things to watch our for in tomorrow's session
Crude inventory data
Weekly crude inventory data from the Energy Information Administration due Thursday, is expected to show that crude stockpiles fell by 2.2m barrels last week.
The report will be released a day after crude settled 4% lower at $45.13 amid growing investor disbelief in Opec and its allies’ efforts to reduce the glut in supply, after Russia said it that would not support deepening oil production cuts.
European Central Bank minutes
The euro may be the ‘currency to watch’ on Thursday, as investors look forward to the release of the minutes from the European Central Bank’s June meeting for clues about any change in tone concerning monetary tightening.
Over the past few weeks, the euro has surged on the back of investor expectations that the European Central Bank is poised to taper its ultra-accommodative monetary policy measures.
U.S. macro data
Investors will get the opportunity to gauge the strength of the U.S. economy on Thursday, as both the ADP report and manufacturing data are on tap.
The ADP report, is widely considered a precursor to the all-important non-farm payrolls report due Friday.
Analysts expect that companies added 185,000 jobs in June, down from the 253,000 figure a month ago.