PMIs in Focus Today

The ECB was the main event yesterday and the central bank was somewhat surprised with a 50-bps rate hike but that wasn’t enough to help the euro find much of a rally. EUR/USD is down 0.37% to 1.0196 at 09.30 GMT+3 as the euro side of the equation fails to really convince and markets will now slowly shift the attention to the Fed next week.

Looking ahead today, PMI data will be in focus and that could stir up sentiment regarding recession risks depending on the numbers that we see so just be wary of that.

10.15 GMT+3 – France July flash manufacturing, services, composite PMI

10.30 GMT+3 – Germany July flash manufacturing, services, composite PMI

11.00 GMT+3 – Eurozone July flash manufacturing, services, composite PMI

11.30 GMT+3 – UK July flash manufacturing, services, composite PMI

16.45 GMT+3 – US July flash manufacturing, services, composite PMI

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