On Wednesday we see the European PMI prints for August. The usual split is expected between manufacturing and services data with manufacturing data expected to come in worse than services data. This is still due to the lopsided impact of covid restrictions and the late bounce back demand for services post social distancing, However, that impact is fading now as you can see from the chart below. Service sector growth is very near to stalling now:
On Wednesday the services print is expected to fall again down to 50.5 from the prior July reading of 50.9. Remember any reading below 50 shows contraction and will be a sure sign that the service sector bounce is failing.
Euro interest rate expectations
Expectations for eurozone interest rates have been sat steady during August with short term interest rate markets seeing a terminal rate of 3.87%. The rate is currently at 3.75%. The expectations for another rate hike are currently sat at 63% for a 25bps rate hike to 4.00% on September 14.
What to watch for
A strong set of prints here on Wednesday will give the ECB more confidence that the economy can take another rate hike. This should support the euro on intraday trade if that happens. The GBP is heavily bought and the retail sales miss last Friday could be a warning sign that the UK consumer is struggling under a higher rate path environment. So, this could mean a short sharp move higher in the EURGBP on Wednesday if the European PMI data surprises to the upside. Exceptions for the PMI prints are below with the minimum and maximum expectations as well:
Этот увлекательный информационный материал подарит вам массу новых знаний и ярких эмоций. Мы собрали для вас интересные факты и сведения, которые обогатят ваш опыт. Откройте для себя увлекательный мир информации и насладитесь процессом изучения!
Узнать больше – https://nakroklinikatest.ru/
cheap generic amoxil – combamoxi.com purchase amoxil without prescription
diflucan 200mg for sale – https://gpdifluca.com/# buy generic fluconazole 100mg
order cenforce 100mg – https://cenforcers.com/ cenforce over the counter
is tadalafil from india safe – click cialis free trial 2018
cialis 20mg tablets – https://strongtadafl.com/ cialis at canadian pharmacy
purple viagra 100 – this red viagra tablets
Greetings! Very useful suggestion within this article! It’s the crumb changes which liking obtain the largest changes. Thanks a quantity towards sharing! gabapentin price
With thanks. Loads of knowledge! https://gnolvade.com/
Thanks an eye to sharing. It’s top quality. https://ursxdol.com/provigil-gn-pill-cnt/
This is the compassionate of literature I truly appreciate. https://prohnrg.com/product/rosuvastatin-for-sale/
Greetings! Utter gainful advice within this article! It’s the crumb changes which will espy the largest changes. Thanks a lot quest of sharing! https://aranitidine.com/fr/acheter-cenforce/
This website exceedingly has all of the information and facts I needed there this case and didn’t know who to ask. https://ondactone.com/product/domperidone/