Private Sector PMIs Put the EUR, the Pound, and the Dollar in Focus
Earlier in the Day:
It is a busier start to the week on the economic calendar this morning. The Japanese Yen will be in focus in the early hours.
For the Japanese Yen
Prelim private sector PMIs numbers for June will draw interest this morning.
While the Eurozone, the UK, and the U.S have all seen marked improvements in private sector activity, Japan has continued to lag.
For the Japanese Yen, the PMIs will need to be particularly impressive to influence the Yen.
Economists have forecast the manufacturing PMI to see a modest increase from 53.0 to 53.1 and the services PMI to rise from 46.5 to 47.0.
At the time of writing, the Japanese Yen was flat at ¥110.65 against the U.S Dollar.
The Day Ahead
For the EUR
It’s a busy day ahead on the economic data front. Prelim June private sector PMIs for France, Germany, and the Eurozone are due out later today.
After a quiet start to the week, expect plenty of interest in the numbers. A further decline in Germany’s manufacturing PMI could test EUR support. At a minimum, service sector activity will need to continue to improve, however.
At the time of writing, the EUR was up by 0.01% to $1.1941.
For the Pound
It’s a relatively busy day ahead on the economic calendar.
Prelim June private sector PMIs are due out later today.
Expect the services PMI to be key ahead of Thursday’s BoE monetary policy decision.
At the time of writing, the Pound was up by 0.01% to $1.3951.
Across the Pond
Prelim private sector PMIs for June are due out along with housing sector numbers for May.
Expect the U.S services PMI to have the greatest impact on the Dollar and market risk sentiment.
On Tuesday, the Dollar Spot Index fell by 0.16% to end the day at 91.756.
For the Loonie
It’s a relatively busy day ahead on the economic data front. Retail sales figures for April will be in focus late today, however.
Expect plenty of Loonie sensitivity to the numbers. Forecasts are for a slide in sales…
At the time of writing, the Loonie was down by 0.02% to C$1.2308 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.