Next week's market preview: Federal Reserve and European Central Bank meeting minutes are coming, with the market focusing on the rate hike path and gold trends.

BlockBeats news, July 5 - Next week, global markets will welcome the Federal Reserve's June meeting minutes, the European Central Bank's meeting minutes, and several important economic data. The market will focus on the Fed's latest assessment of inflation and the interest rate path, as well as U.S. Services PMI, initial jobless claims, and other data. Gold may remain range-bound in the short term. Key highlights include:

· Federal Reserve meeting minutes: Released early Thursday Beijing time, the market hopes to find more details about the first meeting chaired by new Fed Chair Walsh, in order to assess whether there is still room for a rate hike by year-end. Currently, the interest rate market has largely priced in a 25 basis point rate hike in December and sees a certain probability of an early move in October.

· Fed officials' speeches: Officials including Williams, Logan, and Waller will deliver speeches successively. The market will watch whether they adjust their hawkish stance due to the recent weak nonfarm payroll data.

· ECB minutes: Released on Thursday, investors will focus on the ECB's latest assessment of economic growth, inflation, and subsequent monetary policy.

· Reserve Bank of New Zealand interest rate decision: The market expects an approximately 80% probability of a 25 basis point rate hike, and will watch whether it delivers on its previous hawkish guidance.

· Important economic data: U.S. ISM Non-Manufacturing PMI, S&P Global Services PMI final, EIA crude oil inventories, and initial jobless claims will be released successively, providing new clues for the market to judge the U.S. economy and interest rate outlook.

· Gold outlook: HSBC believes that against the backdrop of high real interest rates and a strong U.S. dollar, gold may remain range-bound in the short term, but central bank gold purchases, ETF inflows, and the global de-dollarization trend still support its medium- to long-term bullish logic.

· Earnings season kicks off: PepsiCo, Delta Air Lines, Levi's, and other companies will be the first to report second-quarter results. The market will focus on consumer demand, profit margins, and full-year guidance, setting the stage for the bank earnings season in mid-July.