Economic calendar: US services ISM data, Bitcoin eyes record highs

10:37 am 5 March 2024

  • European indices set for lower opening
  • Bitcoin climb above $68,000 during Asia-Pacific session
  • US servies ISM index scheduled for 3:00 pm GMT

European index futures point to a lower opening of the cash session on the Old Continent today. Bitcoin jumped above $68,000 during the Asia-Pacific session today and traded less than $300 below all-time highs from November 2021. However, the coin has pulled back to the $67,000 area since. GOLD trades 0.1% higher after recording the first daily close above $2,100 per ounce in history. USD and JPY are the best performing major currencies, while AUD and NZD lag the most.

Economic calendar for today is packed with survey data from Europe and the United States. Traders will be offered services PMIs for February throughout the European morning. However, the majority of those releases will be revisions to an already-released flash data and therefore are not expected to show any major deviations from preliminary readings or trigger large market moves. US non-manufacturing ISM reading for February, scheduled for 3:00 pm GMT, may trigger some moves, however. Keep in mind that it was a weaker-than-expected manufacturing ISM reading on Friday that triggered a jump on equities and precious metals.

8:15 am GMT - Spain, services PMI for February. Expected: 53.3. Previous: 52.1

8:45 am GMT - Italy, services PMI for February. Expected: 52.3. Previous: 51.2

8:50 am GMT - France, services PMI for February (final). First release: 48.0

8:55 am GMT - Germany, services PMI for February (final). First release: 48.2

9:00 am GMT - Euro area, services PMI for February (final). First release: 50.0

9:30 am GMT - UK, services PMI for February (final). First release: 54.3

2:45 pm GMT - US, services PMI for February (final). First release: 51.3

3:00 pm GMT - US, non-manufacturing ISM for February. Expected: 53.0. Previous: 53.4

3:00 pm GMT - US, factory orders for January. Expected: -2.8% MoM. Previous: +0.2% MoM

9:40 pm GMT - API report on US oil inventories.

Central bankers' speeches

  • 5:00 pm GMT - Fed Barr
  • 8:30 pm GMT - Fed Barr

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