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Economic calendar: Final services PMI data and JOLTS report

8:25 AM 5 December 2023
  • Futures point to lower opening of today's cash session
  • Investor attention will turn to PMI data and the JOLTS report

European futures are currently pointing to a lower opening of Tuesday's cash session. Stock indexes in the Asia-Pacific region lost during today's session. Korea's KOSPI lost nearly 0.82% intraday, and Japan's Nikkei was down 1.33%. The Hang Seng is currently performing poorly, posting a 1.69% decline intraday.

The euro is losing slightly against other currencies in the FX market after comments from the ECB's Schnabel, who communicated that the current process of fighting inflation is going well, and that the decline in base prices is sizable. The banker added that further interest rate hikes are "rather unlikely" after the November inflation reading. It is worth adding that the banker was previously considered a more "hawkish" ECB member.

On Tuesday's macro calendar we can find, among other things: services PMI data for major European economies and the US, ISM PMI data for services from the US, the JOLTS report from the US, and API survey data on oil inventories.

Today's key readings:

08:15 am GMT - Spain, final PMI data for services for November. Forecast: 51.5 points. Earlier: 51.1 points.

08:45 am GMT - Italy, final PMI data for services for November. Forecast: 48.2 points. Previously: 47.7 points.

08:50 am GMT - France, final PMI data for services for November. Forecast: 45.3 points. Previously: 45.2 points.

08:55 am GMT - Germany, final PMI data for services for November. Forecast: 48.7 points. Previously: 48.2 points.

09:00 am GMT - Eurozone, final PMI data for services for November. Forecast: 48.2 points. Earlier: 47.8 points.

09:30 am GMT - United Kingdom, final PMI data for services for November. Forecast: 50.5 points. Previously: 49.5 points.

02:45 pm GMT - USA, final PMI data for services for November. Forecast: 50.8 points. Previously: 50.6 points.

03:00 pm GMT - USA, JOLTS data for October. Forecast: 9.35 million. Earlier: 9.55 million.

03:00 pm GMT - USA, Services ISM PMI data for November. Forecast: 52 points. Previously: 51.8 points.

09:40 pm GMT - USA, change in oil inventories according to API. Earlier: -0.82 bbl.

Speeches by central bankers

  • 08:00 pm GMT - FED Bowman
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