Economic calendar: Day of PMIs, Labour Day in the US

Summary:

• PMI readings for August from European economies
• SNB data on sight deposits (the indicator pointing to possible FX intervention)
• Holiday in the United States

8:00 am BST - Manufacturing PMI from Poland, Turkey, Norway and Hungary

8:15 am BST - Manufacturing PMI from Spain: The consensus calls for an increase to 48.5 from 48.2

8:30 am BST -  Manufacturing PMI from Czech Republic and Sweden: Expectations suggest a rise to 43.5 in case of Czechia and a rise to 45.3 in case of Sweden.

8:45/8:50/8:55/9:00 - Final manufacturing PMI from Italy (preliminary)/France/Germany/EMU: As far as the Italian index is concerned, the consensus suggests a flat reading of 48.5 points. 

9:00 am BST - SNB sight deposits data: Over the recent weeks we have seen a steady increase in sight deposits signalling the Swiss central bank has stepped in the FX market to weaken the franc. Today’s release will show if the SNB continued this strategy last week. 

9:30 am BST - Manufacturing PMI from the UK: The consensus signals a slight increase to 48.4 from 48.

3:30 pm BST - Manufacturing PMI from Mexico

5:00 pm BST - New car registrations from Italy

Central bankers’ speeches:

• 7:45 am BST - ECB’s Mersch

• 11:15 am BST - ECB’s Rehn