August 12, 2022

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Investors focus on ECB minutes US jobs report – Wel.nl

Investors focus on ECB minutes US jobs report – Wel.nl

Amsterdam (ANP) – In the coming stock market week, the focus will be on the minutes of the European Central Bank’s (ECB) last policy meeting. Due to persistently rising inflation, the demand for interest rate hikes is intensifying. The extent to which the interest should be increased can be inferred from the minutes. The ECB had previously announced its intention to raise interest rates in July.

Minutes of the last policy meeting of the umbrella organization of central banks are also published in the US. Unlike in Europe, the Federal Reserve has already raised interest rates significantly to tackle inflation. Actions can have an impact on economic growth. Over the weekend, much attention will be focused on the US government’s monthly jobs report. The latest US unemployment benefit data on Thursday may be a signal.

Investors in the US also have a short trading week. Wall Street will be closed for Independence Day on Monday. From Europe on that day, among other things, were statistics on producer prices in May. A day later, the latest statistics on service sector activity were released from several major economies. These are the so-called Purchasing Managers’ Indexes from China and the Eurozone.

Shell

On Wednesday, the agenda includes German factory orders and European retail sales. Additionally, attention is paid to Federal Reserve minutes. Those at the ECB will follow on Thursday. There are also figures of German industrial production, which determine the sentiment of the stock market. New figures on inflation in the Netherlands will also be announced.

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On Friday, Statistics Netherlands will report on how the Dutch industry is performing. The US jobs report will also be released then.

Among companies, Shell, among others, the focus is self-evident. Russian President Putin’s order on a major Russian gas project in eastern Siberia could have major consequences for the group. Moscow announced before the weekend that it would transfer the Sakhalin 2 natural gas plant to a new Russian company. By doing so, Moscow could force companies to pull out of a crucial energy project. Shell plays an important role in the project.