Lots of European PMI figures and British GDP dominate today’s trading. Here’s what’s up for today:
European Purchasing Managers numbers dominate the morning. French Flash Manufacturing PMI and Flash Services PMI start the morning, at 7:00 GMT. Half an hour later, the same German figures are released. Finally, at 8:00 GMT, the all-European PMI numbers are released. All these indices are expected to advance, but still remain under the critical 50 mark. Expansion isn’t near.
German Ifo Business Climate is a major indicator for the whole continent. It’s expected to continue rising, and reach 86.6. Slow and steady. EUR/USD will shake during these morning hours.
In Britain, the influx of data will reach a peak with the release of the Prelim GDP for the second quarter. Contraction is expected to ease to 0.3% after a devastating first quarter (-2.4). It’s published at 8:30. The Pound will move sharply at this time.
Check out the British Pound Outlook.
In the US, the only important publication is the Revised UoM Consumer Sentiment which is predicted to stay high, and rise to 65.1
Happy forex trading!