Market lacks direction ahead of US data

We do expect some volatility post Finalized US GDP Q2, but it should be capped as FOMC minutes are tonight at 18:15 GMT where Fed will likely comment on inflation still remaining the greatest fear.

BoE: King says output growth resilient in face of higher interest rates.
UK: King says MPC will continue to monitor closely price intentions indicators.
BoE: Lomax says wants to see more data before she decides on her next move.
BoE: Tucker and Blanchflower did not vote for a rate hike in June because not enough

data had emerged. Additionally Blanchflower emphasised the slack in the labour market.
BoE: Blanchflower will be looking at the labour market, consumer spending  in the next

few months. Tucker will look at consumer spending, global demand, capacity pressures,

pricing pressures & inflation expectations (crucial).
BoE: Besley - feels that if we move rates now we will have to do less later. Balance of

risks on inflation are to the upside.
BoE's Besley (voted for a hike in the last meeting) said that moving rates in the short

term may avoid further moves in future. He thinks the balance of risks is to the upside

and a 50bp move would not be a surprise, but that he would vote on it only if

necessary. He flags inflation expectations as key indicator.

美国数据前缺乏方向

我们期望美国GDP数据后市场能有所波动，但是美国东部时间18：15将公布美联储公开市场委员会备

忘录。在备忘录中，美联储很可能将对越来越让人担心的通胀发表看法。

英国央行：king说，出口的反弹将给加息带来压力。
英国：King说，货币政策委员会将继续严密关注各项价格指标。
英国央行：Lomax说希望在下一次作利率决定前多参考一些数据。
英国央行：Tucker 和 Blanchflower没有投票支持6月加息，因为尚没有足够的数据显示需要加息的迹象。另外，Blanchflower进一步劳动力市场的的压力正在减缓。
英国央行：Blanchflower将在后几个月考察劳动力市场、消费市场。Tucker将会考察消费者消费、全球需求、生产压力、价格压力以及通胀预期（关键）。
英国央行：Besley说即使现在加息，将来仍然需要再次加息。通胀风险正在进一步加大。
英国央行的Besley（上次会议中投票加息）说短期内提高利率能有效避免长时间内再考虑加息。我们觉得通胀的增长已经失衡，即使加息50个点也属正常，但是只是在觉得有完全必要时才会投票。通胀是他考虑的关键指标。