-
European markets set for slightly lower opening
-
GBP gains as UK government drops plan of tax cut for high earners
-
ISM manufacturing index for September at 3:00 pm BST
US and European index futures launched a new week with a drop but have managed to recover the majority or all of the losses ahead of the European cash session open. DAX futures now point to an opening around 100 points below Friday's cash close. USD is pulling back, providing support for precious metals. Oil gains on reports that OPEC+ may go for a 1 or even 1.5 million bpd output cut this week. GBP is one of top performing G10 currencies after BBC reported that Truss government may drop idea of tax cut for high earners amid party insider backlash.
Economic calendar for the day ahead is dominated by releases of manufacturing PMIs for September. However, most of those will be revisions and are unlikely to have a major impact on the market. Nevertheless, US ISM manufacturing index for September at 3:00 pm BST will not be a revision and will be watched closely, especially employment and prices subindices.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app8:00 am BST - Poland, manufacturing PMI for September. Expected: 40.1. Previous: 40.9
8:15 am BST - Spain, manufacturing PMI for September. Expected: 49.2. Previous: 49.9
8:45 am BST - Italy, manufacturing PMI for September. Expected: 47.5. Previous: 48.0
8:50 am BST - France, manufacturing PMI for September (final). First release: 47.8
8:55 am BST - Germany, manufacturing PMI for September (final). First release: 48.3
9:00 am BST - Euro area, manufacturing PMI for September (final). First release: 48.5
9:30 am BST - UK, manufacturing PMI for September (final). First release: 48.5
2:45 pm BST - US, manufacturing PMI for September (final). First release: 51.8
3:00 pm BST - US, ISM manufacturing index for September. Expected: 52.2. Previous: 52.8
3:00 pm BST - US, construction spending for August. Expected: -0.3% MoM. Previous: -0.4% MoM
Central bankers' speeches
-
8:10 pm BST - Fed Williams
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.
