US: Focus on economic releases with manufacturing ISM at the centre stage - BBH

Research Team at BBH, suggests that the North American session features a full slate of data, but two reports stand out:  the manufacturing ISM and the auto sales. 

Key Quotes

“Both are expected to soften a bit.  The other reports, like Q2 productivity and labor costs, are not typically market movers, though important for understanding the economy and US competitiveness. 

Weekly jobless claims do not attract much interest the day before the national report.  Construction spending is also not a market mover, but an increase in July would snap a three-month drop, and boost confidence that GDP is recovering, and it broadens outside of consumption.”