PMIs Figures for UK & Europe in Limelight
Looking ahead, UK PMI figures are due for release from 4pm (SGT) onwards. With easing restrictions on businesses, these are expected to improve. The nature of PMIs as a leading indicator could have a sizeable impact on the Pound dependent on the result. Currently, the AUDGBP pair is trading at 1.737 mark.
Today, the manufacturing PMIs for France, Germany and the EU for June will be released from 3.15pm onwards. This will be accompanied by the Services and the Market Composite PMIs for Europe. Overall, markets are expecting the PMIs to improve compared to May but to still remain in negative territory. It will be interesting to see whether the Euro finds some support should the forecasts be met. Currently, the EUR/SGD pair is trading at 1.568 mark.
Disclaimer: The above comments are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Error & omission excepted.