Forex Focus on PMI’s

It is a busy day today for traders around the globe as the European PMI’s will set the tone and might give a clue about the ECB next policy move. The France July business, manufacturing confidence is due at 6:45GMT. The European PMI’s will start at:

7:15GMT France July flash manufacturing, services, composite PMI

7:30GMT Germany July flash manufacturing, services, composite PMI

8:00GMT Eurozone July flash manufacturing, services, composite PMI

Eurozone June M3 money supply data will be released at 8:00GMT. GBPUSD traders await the UK Finance June mortgage approvals due at 8:30GMT. At 11:00GMT we have the US MBA mortgage applications for the week ended 19 July.

In the US calendar we have the Markit Manufacturing PMI, Services and Composite PMI will be released at 13:45GMT. The New Home Sales data will be out at 14:00, while at 14:30 the EIA Crude Oil Stocks Change will be published.

You can find more on expectations and previous readings in our forex calendar.

Earlier today the Australian CBA – Markit Purchasing Managers’ Index for July showed that the Manufacturing PMI lagged behind 52.0 prior to 51.4 and the Services PMI also trailing the 52.6 earlier with 51.9 reading, resulting into 51.8 Composite PMI versus 52.5 previous readouts. Skilled vacancies fell 6.7% year-on-year in June. Japan Nikkei Manufacturing PMI came in at 49.6 below expectations of 49.7 in July.

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