Markets Overview

    

The focus on Friday (23 Jun) will be on Fed Reservespeakers and the economic data docket. We have St LouisFed President, James Bullard (non-voter in 2017 FOMC),Cleveland Fed President Loretta Mester, (non-voter in 2017FOMC) and Fed Board Governor Jerome Powell (permanentFOMC voter). On the data front, we have the prelimJune Markit manufacturing & services PMI for developedeconomies (including Japan, Eurozone and US), final printfor French 1Q 2017 GDP, and US May new home sales. TheEuropean Union leaders Summit in Brussels will concludetoday on 23 Jun. We are still waiting for announcementby UK PM Theresa May whether an agreement with theDemocratic Unionist Party (DUP) is reached to form acoalition government while there is another round of Italianlocal elections (the runoff vote) on Saturday (24 Jun).

    UK Prime Minister Theresa May told her fellow leaders overdinner at Thursday’s (22 Jun) Brussels Summit that nearlyall 3 million EU citizens in the UK will be able to continueliving there after Brexit, saying she wanted to offer themas much certainty as possible about their futures. But thatdrew a tepid reception from the EU leaders as “there areso many details left open and a lot of citizens of Europe areconcerned and not covered with the proposal of Mrs. May,so there is a long, long way for negotiations.” UK will publisha detailed plan on Monday (26 Jun).

    Today, we look forward to two set of macroeconomicindicators to be released for Singapore

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