Fed minutes and inflation data set to steer rate expectations

Global investors are watching Federal Reserve minutes, inflation readings and manufacturing surveys this week for signals on interest rates, growth and price pressures.

Minutes from the Fed's July meeting are due Wednesday after policymakers voted 9-3 to keep the federal funds rate at 3.5% to 3.75%. U.S. money markets price a 27% chance of a quarter-point rate increase next month, with a hike not fully priced until early next year, according to LSEG data.

The week also brings U.S. manufacturing surveys, housing data, jobless claims and Treasury auctions. Canada and the U.K. will release inflation figures, while eurozone purchasing managers' surveys and Chinese economic data will offer a broader view of global demand.

Oil prices and Middle East developments remain a market focus as investors look for signs of a possible U.S.-Iran agreement that could reopen the Strait of Hormuz.

Read the full story at morningstar.com.