Here is what you need to know on Wednesday, July 1: The action in financial markets quiet down midweek as investors step to the sidelines ahead of key speeches by central bank officials.
The European economic calendar will feature preliminary Harmonized Index of Consumer Prices data for June
Later in the day, market participants will pay close attention the June ADP Employment Change and the Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) data from the US. US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.
Federal Reserve (Fed) President Kevin Warsh, Bank of England (BoE) Governor Andrew Bailey, European Central Bank (ECB) President Christine Lagarde and and Bank of Canada Governor Tiff Macklem will participate in a panel discussion at the European Central Bank forum on central banking 2026 in Sintra, Portugal, starting at 13:00 GMT. Hammack flags full employment and persistent inflation, keeps rate hikes on the table Cleveland Fed President Beth Hammack delivered a moderately hawkish tone during a CNBC interview on Tuesday, with the FXS Speechtracker score at 6.4/10, slightly softer relative to the historical average of 7/10, as comments balanced confidence in growth and the job market being “right around full employment” with concern about the impact of higher rates on the broader economy. The key remark that “inflation is still too high, Fed may need to consider rate hikes,” alongside emphasis that core and services inflation are elevated and broad-based rather than just an energy story, underscores a live risk of renewed tightening even as Hammack stressed going into meetings with an open mind and not prejudging outcomes.