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Economic calendar: PMI data and Bitcoin in the spotlight!

7:48 AM 24 October 2023
  • European futures point to higher opening of today's cash session
  • PMI data from major economies in focus for investors 
  • Bitcoin trims some of the upside and is trading slightly below $34,000

Futures markets point to a higher opening for today's cash session in Europe. Improved sentiment in Asia is supporting market bulls, who may focus on the cryptocurrency market during the first phase of today's session, where we are seeing massive gains. 

Investors can also expect increased volatility on individual companies. Novartis (NOVN.CH), UniCredit (UCG.IT) and Barclays (BARC.UK), among others, have already presented their results today. 

Highlights of today's macro calendar include PMI data for services and manufacturing from all major economies and the API survey report on US oil inventories. The calendar will be topped off with speeches by Lagarde and Bullock from the RBA.

Key macro readings of the day:

08:15 am BST: France, PMI index for services and manufacturing for October.

  • Manufacturing. Forecast: 44.8. Previously: 44,2.
  • Services. Forecast: 44.6. Previously: 44,4.

08:30 am BST: Germany, PMI for services and manufacturing index for October.

  • Manufacturing. Forecast: 40.0. Previously: 39,6.
  • Services. Forecast: 50.0. Previously: 50,3.

09:00 am BST: RBA Bullock speech.

09:00 am BST: Eurozone, PMI for services and manufacturing index for October.

  • Manufacturing. Forecast: 43.7. Previously: 43,4.
  • Services: Forecast: 48.7. Previously: 48,7. 

09:30 am BST: UK, PMI for services and manufacturing index for October.

  • Manufacturing: Forecast: 45.0. Previously: 44,3.
  • Services: Forecast: 49.5. Previously: 49,3.

01:00 pm BST: Hungary, interest rate decision Forecast: 12.5%. Previously: 13,0%.

01:30 pm BST: ECB Lagarde speech.

02:45 pm BST: USA; PMI for services and manufacturing index for October.

  • Manufacturing. Forecast: 49.5; earlier: 49,8.
  • Services: Forecast: 49.9. Previously: 50,1.

09:40 pm BST: US, change in oil inventories according to API. Forecast: -0.8 bbl. Previously: - 4.38 bbl.

 

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