Economic calendar: Manufacturing ISM to draw attention

Summary:

• US manufacturing ISM in the spotlight this afternoon
• Construction PMI from the UK
• Some central bankers on the agenda

8:00 am BST - Inflation from Turkey

9:30 am BST - Construction PMI from the UK for August: We got a disappointing manufacturing PMI yesterday, hence investors may even more pay attention to today’s data. The consensus suggests a slight rebound to 46.5 from 45.3.

10:00 am BST - PPI from EMU for July: The consensus points to a 0.2% YoY increase after a 0.7% YoY increase reported in June.

10:30 am BST - GDP from South Africa for Q2

2:30 pm BST - Manufacturing PMI from Canada for August

3:00 pm BST - Manufacturing ISM from the US for August: After a holiday on Monday, US investors get back to work and they will have to deal with bearish sentiment following yesterday's news that the US and China struggle to set the date when they could meet to resume trade negotiations. In terms of today’s reading, it’s worth noting that the US index might be still under pressure from the weakness seen in European manufacturing (based on a causality analysis one may notice that European PMI causes US ISM, not the other way round). The consensus points to 51.2, unchanged compared to July. 

Central bankers’ speeches:

• 9:00 am BST - SNB’s Jordan

• 10:00 pm BST - Fed’s Rosengren

• 2:30 am BST (Wednesday) - BoJ’s Kataoka