Good Morning Traders! Now half-way through the week, we get Composite and Services PMI for the Euro-area.
Here's what to expect.
Sentiment
According to a private study, growth in China's services sector slowed down in June compared to the prior month, adding fresh proof that cooling is the main factor boosting the nation's post-Covid recovery.
The Wall Street Journal claimed, citing people familiar with the matter, that the US is prepared to restrict Chinese companies' access to cloud computing services, including those offered by Amazon and Microsoft.
One day after his country placed export restrictions on two important metals needed to manufacture chips, Chinese leader Xi Jinping urged nations to reject decoupling and the breaking of supply chains in order to oppose Western sanctions against Beijing.
Trading participants were anticipating potentially harsh remarks from Saudi Energy Minister Prince Abdulaziz bin Salman as oil slipped down after climbing more than 2% on Tuesday due to supply cutbacks by Saudi Arabia and Russia.
Docket
03:50 AM ET
French Composite PMI
Median Forecast 47.3 | Prior 47.3 | Range 47.8/47.3
French Services PMI
Median Forecast 48 | Prior 48 | Range 48.9/48
03:55 AM ET
German Composite PMI
Median Forecast 50.8 | Prior 50.8 | Range 50.8/50.8
German Services PMI
Median Forecast 54.1 | Prior 54.1 | Range 54.1/54.1
04:00 AM ET
ECB Consumer Expectations Survey
Eurozone Composite PMI
Median Forecast 50.3 | Prior 50.3 | Range 50.4/50.3
Eurozone Services PMI
Median Forecast 52.4 | Prior 52.4 | Range 53.0/52.4
04:30 AM ET
UK Composite PMI Final
Median Forecast 52.8 | Prior 52.8 | Range 52.8/52.8
UK Services PMI Final
Median Forecast 53.7 | Prior 53.7 | Range 54/53.7
Speakers
04:00 AM ET
ECB's Visco Speaks
07:00 AM ET
ECB's Villeroy Speaks
Good Luck Today Trades!
