It’s time to start the new week and hopefully things pick up later in Europe. And if not, it certainly is when Wall Street drops later in the day. Right now we are experiencing a calmer mood with continued lack of appetite for the first couple of days.
The major currencies haven’t changed much and are still locked in narrow ranges, with US futures not seeing much change either. However, Asian stocks are holding lower, as China concerns continue to dampen optimism in the region. USD/CNY saw a bearish correction (stronger yuan) today but that was quickly wiped out with the pair now up to 7.23 levels on the day.
Looking at Europe, data releases will not have much impact as we will get final estimates of PMI data for the month of June mostly. Given that there are US Nonfarm Payrolls coming out on Friday, we also have to see if the markets will have some renewed appetite after the pause over the past few days.
0715 GMT – Spain for June PMI Services
0745 GMT – Italian June Services, Composite PMI
0750 GMT – France Final Services June Composite PMI
0755 GMT – Germany’s June Final Services Composite PMI
0800 GMT – Eurozone June Final Services Composite PMI
0830 GMT – UK June Final Services Composite PMI
0900 GMT – Eurozone PPI figures for May
That’s it for the next session. I wish you all the best in the coming days and good luck with your trading! Stay safe out there.