GBP/USD RALLIES SHARPLY ABOVE 1.2070 ON DISAPPOINTING US SERVICES PMI
GBP/USD rallied sharply near 1.50% on disappointing US ISM data. Hawkish Fed call failed to weigh on GBP/USD. Next week’s economic calendar includes reports on GDP and US CPI. ,…
Euro area PMI data in focus in the session ahead
After the plunge below parity to its lowest levels in nearly twenty years, the euro looks set to consolidate below the key level amid a more dire outlook with little…
Germany June industrial output +0.4% vs -0.3% m/m expected
Prior +0.2% The data is out a few minutes early on Reuters and it is an upside surprise to estimate. That said, it pertains to Q2 data which isn’t too…
Eurostoxx futures -0.2% in early European trading
German DAX futures -0.2% UK FTSE futures flat Spanish IBEX futures -0.2% This somewhat mirrors the mood in US futures, with S&P 500 futures seen down 0.5%. Meanwhile, Nasdaq futures…
Eurozone June final manufacturing PMI 52.1 vs 52.0 prelim
The headline reading is a 22-month low but the more standout detail is that manufacturing output actually contracted for the first time since the early days of the pandemic and…