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Economic calendar: It's PMI day!

7:40 AM 23 June 2023
  • European indices set for lower opening
  • Flash PMIs for June from Europe and the United States
  • GBP ticks higher after retail sales beat

European index futures point to a lower opening of the cash session on the Old Continent today. This comes after a downbeat trading during the Asia-Pacific session that saw regional indices trade up to 2% lower.

Economic calendar for today is packed with releases of flash PMI indices for June. Readings from France and Germany at 8:15 am BST and 8:30 am BST, respectively, will draw the most attention during the European morning trade and are expected to show a slight deterioration in services sector. Overall, PMIs in both Europe and the United States are expected to show manufacturing sector remaining in a contraction zone and services sector remaining in expansion.

UK retail sales data for May was released this morning at 7:00 am BST and turned out to be a positive surprise. Markets expected UK sales to have dropped 0.2% MoM in May while actual data showed a 0.3% MoM increase. On an annual basis, retail sales were 2.1% YoY lower (exp. -2.5% YoY). GBP moved slightly higher following the release but scale of this advance did not exceed 0.1%.

8:00 am BST - Spain, GDP report for Q1 2023 (revision). First release: 0.5% QoQ

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

  • Manufacturing. Expected: 45.4. Previous: 45.7
  • Services. Expected: 52.0. Previous: 52.5

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

  • Manufacturing. Expected: 43.5. Previous: 43.2
  • Services. Expected: 56.2. Previous: 57.2

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

  • Manufacturing. Expected: 44.8. Previous: 44.8
  • Services. Expected: 54.5. Previous: 55.1

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

  • Manufacturing. Expected: 46.9. Previous: 47.1
  • Services. Expected: 54.7. Previous: 55.2

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

  • Manufacturing. Expected: 48.5. Previous: 48.4
  • Services. Expected: 54.0. Previous: 54.9

Central bankers' speeches

  • 10:15 am BST - Fed Bullard
  • 11:00 am BST - ECB De Cos
  • 1:00 pm BST - Fed Bostic
  • 1:40 pm BST - Fed Mester
  • 1:45 pm BST - ECB Panetta
  • 5:00 pm BST - ECB Elderson
  • 6:40 pm BST - Fed Mester
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