In the new trading week, market players are likely to focus in particular on the publication of new US labor market data, which is expected on Thursday due to the holiday. In addition to geopolitical developments, hopes for a trade deal between the US and the EU are likely to remain a topic of discussion.
The stock exchange doors on Wall Street will remain closed on Friday for Independence Day.
Tariffs on EU goods loom - investors hope for an agreement in the tariff conflict between the EU and the USA
An agreement in the trade dispute between the EU and the US must be reached by July 9, it said. If not, there is a threat of US tariffs totaling 50 percent on almost all EU products. According to a recent media report, EU Commission President Ursula von der Leyen had expressed confidence that both parties would be able to reach a deal before the aforementioned deadline.
ISM data on Tuesday - ADP data could provide first appetizer for NFPs
On the economic front, the ISM Purchasing Managers' Index for the manufacturing sector is expected on Tuesday (16:00).
At the same time, the so-called "JOLTs", which reflect the vacancies on the labor market, are also published.
The ADP employment data on Wednesday (14:15) could provide a first foretaste of the non-farm payrolls.
US labor market data expected on Thursday - Wall Street will be closed on Friday due to the holiday
Consequently, the official jobs data in the US could decide the weal and woe on Thursday (14:30). In addition to the unemployment rate, the development of average hourly wages is also expected.
Last but not least, the ISM Purchasing Managers' Index for the services sector will follow on Thursday (16:00).
Dow Jones Industrial Average Index
Source: TradingView
