UK and Eurozone manufacturing PMIs amongst market movers today – Danske Bank

The Danske Bank analysts provide brief insights on the key economic events due on the cards later this Monday while markets will also keep an eye on the aftermath of the trade ceasefire over the weekend.

Key Quotes:

“In Europe, there will be ongoing discussions on who will head key European institutions after difficulties agreeing on the candidates.

In the UK, the PMI manufacturing index for June is set to be released today. The index is likely to fall further, as it remains elevated compared with the equivalent euro area index and stockpiling ahead of Brexit.

In the US, we start the week with ISM manufacturing for June. We expect ISM to decrease and come in at 50.8, down from 52.2. In our view, the US manufacturing sector is not immune to the global slowdown but we think the index will remain just above the important 50 threshold. That said, risk is skewed to the downside.”