Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
Instruments to trade: EUR/USD, EUR/JPY, EUR/CAD
There are two versions of the PMI report: Flash and Final. Flash is the earliest one and thus tends to have more impact. If this indicator comes above 50.0, it signals the industry expansion, below – contraction. Besides, on Friday French and German PMIs will be released. Since Germany has the largest economy in Europe, it will be closely watched by investors as well. New coronavirus cases are steadily rising in the Eurozone and in some parts the numbers have even reached fresh records. That’s why countries may impose new restrictions, which will dampen economic activity and slow down the recovery.
- If PMI is greater than the forecast, the EUR will surge.
- Otherwise – fall.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).