US: ISM Non-Manufacturing PMI and jobless claims in focus - TDS

In the US session, ISM Non-Manufacturing PMI and initial jobless claims are going to be the key economic releases, according to analysts at TDS.

Key Quotes

“ISM Non-Manufacturing PMI is forecast by both TD and the market to edge slightly lower in July. TD looks for the non-manufacturing index to slip from 57.4 to 57.0, in line with the 56.9 consensus and the pullback in ISM manufacturing seen earlier this week. The market expects factory orders to rise by 3.0% m/m in June, led by the robust increase in durable goods orders, while the market consensus is for initial jobless claims to remain largely unchanged at 243k.”