What to Watch in The Day Ahead; Wednesday, July 9
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) The Federal Reserve releases minutes of its June policy committee meeting. The more detailed account of the session could provide insight into the Fed's ongoing debate about the tools it will use to manage interest rates in the future, and on the interpretation policymakers are giving to the latest data on economic growth, inflation and unemployment. (1400/1800) U.S. Treasury Secretary Jacob Lew and Secretary of State John Kerry will join their respective Chinese co-chairs, Vice Premier Wang Yang and State Councilor Yang Jiechi, for the sixth round of the U.S.-China Strategic and Economic Dialogue. French bank BNP Paribas is scheduled to plead guilty to federal charges it violated U.S. sanctions laws as part of a broad $8.9 billion settlement. The plea, before U.S. District Judge Lorna Schofield, follows an earlier guilty plea to New York state charges of falsifying business records and conspiracy and the unveiling of the global accord resolving an investigation that the bank violated sanctions laws by facilitating transactions involving Sudan, Cuba and Iran. The Mortgage Bankers Association is scheduled to report seasonally adjusted index of mortgage application activity, which fell 0.2 percent in the week ended June 27. (0700/1100) The Canada Mortgage and Housing Corp is scheduled to report data for new home construction for June. The seasonally adjusted annualized rate of housing starts rose to 198,300 last month. (0815/1215) The national statistics institute of Mexico is scheduled to release annual inflation rate, which in the 12 months through May was 3.51 percent. (0900/1300) Separately, Chile's central bank will publish its latest fortnightly poll of analyst expectations on interest rates to inflation and the exchange rate. Investors are looking for any changes in expectations. (Compiled by Sourav Bose in Bangalore; Edited by Don Sebastian)
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