Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
US macro data on tap
A duo of top tier economic data on monetary policy and manufacturing could provide fresh direction for the dollar after it fell to more than three-month lows on Tuesday.
The Federal Reserve publishes the minutes of its December meeting at which the central bank voted to raise rates for third time in 2017 and signaled their intention for a further interest rate hikes this year.
The minutes isn’t expected to offer detailed clues on monetary policy tightening as Fed chair Janet Yellen is set to be replaced by Fed governor Jerome Powell but insight into the central bank’s thinking on the pace of economic growth and inflation is expected to be carefully parsed.
On the manufacturing front, economist forecast the U.S. ISM Manufacturing Purchasing Managers Index slowed to 58.1 in December from 58.2 in the previous month.
U.S. crude oil supplies to continue decline?
Traders look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute due Wednesday .
The American Petroleum Institute reported crude oil stockpiles fell by about 6 million barrels last week.
Crude oil futures have made subdued start to the year as the Forties pipeline system in the North Sea returned to full operations on Dec. 30 offsetting the prospect of supply disruptions in Iran amid ongoing anti-government protests.
German Employment Data In Focus
Germany releases its December employment data on Wednesday amid ongoing uncertainty surrounding the progress of talks between Chancellor Angela Merkel’s conservatives and Social Democrats (SPD) to form a coalition.
SPD deputy leader Thorsten Schaefer-Guembel said a deal on a new coalition was far from certain and it was unclear if the talks scheduled for Jan. 7 could develop sufficient trust.
Economists forecast the number of unemployed workers fell by 14,000 in December, while the unemployment rate is expected to remain steady at 5.6%.