Analysts at Danske Bank suggest that even though significant market attention will be on the new government in Italy that was formed last night and what policy signals it will send with regard to its economic and EU policy programme, but UK manufacturing PMI and US NFP will also gauge some market attention in today’s session. Key Quotes “In the UK, we also get the PMI manufacturing index for May. The UK index is more volatile (bigger swings) than the equivalent index for the euro area, and since it fell in May, the UK index may very well follow. We estimate a fall to 53.6 from 53.9.” “The market will also focus on trade tensions between the US and EU countries, Canada and Mexico.” “On the data front, the most important release of the day is the US jobs report for May. Once again, average hourly earnings is the key number to watch. We estimate wages rose +0.2% m/m in May, in line with the recent trend, implying an unchanged annual growth rate of 2.6% y/y. We estimate that nonfarm payrolls rose 190,000 and the unemployment rate was unchanged at 3.9%.” “Based on the regional PMIs and Markit PMI manufacturing, US ISM manufacturing probably rose and we think it may have rebounded from 57.3 to 58.0. This does not change our overall view that the US manufacturing indices should move lower in 3-6M.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD squeeze higher could extend to 1.1735/1.1875 – Commerzbank FX Street 5 years Analysts at Danske Bank suggest that even though significant market attention will be on the new government in Italy that was formed last night and what policy signals it will send with regard to its economic and EU policy programme, but UK manufacturing PMI and US NFP will also gauge some market attention in today's session. Key Quotes "In the UK, we also get the PMI manufacturing index for May. The UK index is more volatile (bigger swings) than the equivalent index for the euro area, and since it fell in May, the UK index may very well follow. We… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
