Fed June Minutes Dominate Next Week's Market Focus as Rate Hike Path Questioned

According to BlockBeats, next week's global markets will be dominated by the U.S. Federal Reserve's June meeting minutes and European Central Bank minutes, with investors scrutinizing the Fed's latest stance on inflation and rate trajectory under new Chair Jerome Powell's leadership. The Fed minutes will be released Thursday early Beijing time, with markets pricing in a 25 basis point hike probability of around 80% for December and assessing the likelihood of an earlier move in October.

Key economic data including U.S. ISM non-manufacturing PMI, S&P Global services PMI, initial jobless claims and EIA crude inventories will also be released. HSBC expects gold to remain range-bound in the near term amid elevated real rates and dollar strength, though central bank buying and ETF inflows may support longer-term upside.