Economic calendar: Final services PMIs, non-manufacturing ISM

9:16 am 5 June 2023

  • European indices set for flat opening

  • Final services PMIs for May, non-manufacturing ISM

  • Inflation data from Switzerland, Turkey and euro are

European index futures point to a flat opening of the European cash session today. This comes after an upbeat trading in Asia earlier today and a solid Wall Street session on Friday. Story of the day is oil with OPEC+ agreeing to extend output cuts through 2024 over the weekend. On top of that, Saudi Arabia announced a 1 million bpd voluntarily cut for July. Oil launched new week's trading with an over-1.5% bullish price gap but majority of those gains have been erased already.

Economic calendar for today is packed with data releases but most of those can be considered second-tier and may not have much impact on the markets. CPI data from Swiss and Turkey will be released this morning, followed by euro area PPI data. Also, final services PMIs for May from European countries will be released throughout the morning. Attention in the afternoon will be on non-manufacturing ISM for May and US factory orders for April. 

7:30 am BST - Swiss, CPI inflation for May. Expected: 2.2% YoY. PRevious: 2.6% YoY

8:00 am BST - Turkey, CPI inflation for May. Expected: 39.2% YoY. Previous: 43.7% YoY

8:15 am BST - Spain, services PMI for May. Expected: 56.8. Previous: 57.9

8:45 am BST - Italy, services PMI for May. Expected: 57.0. Previous: 57.6

8:50 am BST - France, services PMI for May (final). First release: 52.8

8:55 am BST - Germany, services PMI for May (final). First release: 57.8

9:00 am BST - Euro area, services PMI for May (final). First release: 55.9

9:30 am BST - UK, services PMI for May (final). First release: 55.1

9:30 am BST - Euro area, Sentix index for June. Expected: -15.1. Previous: -13.1

10:00 am BST - Euro area, PPI inflation for April. Expected: 1.5% YoY. Previous: 5.9% YoY

2:45 pm BST - US, services PMI for May (final). First release: 55.1

3:00 pm BST - US, factory orders for April. Expected: 0.8% MoM. Previous: 0.4% MoM

3:00 pm BST - US, non-manufacturing ISM for May. Expected: 52.3. Previous: 51.9

Central bankers' speeches

2:00 pm BST - ECB President Lagarde

3:00 pm BST - ECB Nagel

4:15 pm BST - ECB Wunsch

6:30 pm BST - Fed Mester

The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.