Economic calendar: Fed Minutes in the spotlight 📃

Today's calendar is relatively light in terms of macroeconomic data releases. However, investors' attention will focus on the publication of the FOMC minutes from the last meeting. The release of the minutes is scheduled for 07:00 PM BST. Investors will be paying close attention to any hints regarding monetary policy easing by the Fed this year.

In addition to the minutes, earlier in the day, data on industrial product prices from Canada will be released. The consensus indicates a monthly decline of 0.3% compared to the previous reading of 0.0%. This trend reflects a continued decrease in inflationary pressures, consistent with yesterday's lower core inflation readings.

Detailed schedule of the day:

01:30 PM BST, Canada - New Housing Price Index for July:

• forecast 0.0% MoM; previous -0.2% MoM;

01:30 PM BST, Canada - Inflation Data for July:

• IPPI: previous 2.8% YoY;
• IPPI: forecast -0.3% MoM; previous 0.0% MoM;

03:30 PM BST, United States - EIA Data:

• EIA Weekly Distillates Stocks: forecast 0.500M; previous -1.673M;
• Gasoline Inventories: forecast -0.790M; previous -2.894M;
• Crude Oil Inventories: forecast -2.000M; previous 1.357M;

07:00 PM BST, United States - FOMC Meeting Minutes