TD Securities' analysts are expecting the U.S. personal spending to have maintained its strong pace at 0.4% m/m in June, closing the second quarter at a decent clip.

• “In the details, we expect a 0.5% m/m advance in services spending to be the main driver behind the June gain, with a rise in spending in nondurables (+0.3%) also helping on the headline. Moreover, we forecast income to rise 0.3% m/m, a tad slower than in the prior month.
• Separately, look for the release of the Conference Board's consumer confidence indicator, where the market expects a modest rebound to a still-high 125.0 level in July.”