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Economic calendar: Flash PMIs and ECB minutes in the spotlight

7:49 AM 22 August 2024
  • European indices set to open little changed
  • Flash PMIs from Europe and the United States
  • ECB minutes, US jobless claims data

European index futures point to a more or less flat opening of the cash session on the Old Continent. This comes after an upbeat trading on Wall Street yesterday and a rather upbeat Asia-Pacific session earlier today. Markets continue to be influenced by yesterday's dovish FOMC meetings amid otherwise light newsflow.

Economic calendar for the day ahead is packed with flash PMI releases for August. As usual, attention in Europe will be mostly on French and German releases. However, no major deviations from July readings is expected, with manufacturing sector in Europe expected to stay in recession territory, while services sector is expected to remain in expansion territory. US PMI data is expected to show both sectors remaining in expansion. Apart from PMIs, traders will also be offered ECB minutes and US jobless claims data today.

8:15 am BST - France, flash PMI indices for August.

  • Manufacturing. Expected: 44.4. Previous: 44.0
  • Services. Expected: 50.3. Previous: 50.1

8:30 am BST - Germany, flash PMI indices for August.

  • Manufacturing. Expected: 43.5. Previous: 43.2
  • Services. Expected: 52.3. Previous: 52.5

9:00 am BST - Euro area, flash PMI indices for August.

  • Manufacturing. Expected: 45.8. Previous: 45.8
  • Services. Expected: 51.9. Previous: 51.9

9:00 am BST - Poland, retail sales for July. Expected: 6.3% YoY. Previous: 4.7% YoY

9:30 am BST - UK, flash PMI indices for August.

  • Manufacturing. Expected: 52.1. Previous: 52.1
  • Services. Expected: 52.8. Previous: 52.8

12:30 pm BST - ECB minutes

1:30 pm BST - US, initial jobless claims. Expected: 230k. Previous: 227k

2:45 pm BST - US, flash PMI indices for August.

  • Manufacturing. Expected: 49.6. Previous: 49.6
  • Services. Expected: 54.0. Previous: 55.0

3:00 pm BST - US, existing home sales for July. Expected: 3.92 million. Previous: 3.89 million

3:30 pm BST - EIA natural gas storage. Expected: +22 bcf. Previous: -6 bcf

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