Attention turns to Europe leading into the weekend

June 23, 2017

It has been a rather quiet week as far as announcements go, but it we are in for a busier night as we head into the weekend.

Europe is set to release several pieces of data later tonight. This includes: European, German & French Flash Manufacturing PMI’s, European, German & French Flash Services PMI’s and Belgian NBB Business Climate. The PMI figures are important as they reflect the strength of the Manufacturing and Services sectors, both vital to the European economy. As this is an index figure, a number above 50 denotes expansion in the sector while a number below that denotes contraction. It is important to look at the previous figure and compare it to the figure being released as this can reflect a trend in the slowing of expansion or even a move to contraction. Conversely, strong figures can indicate a healthy sector and one that is expanding, which is good for the economy.

Elsewhere around the world, the US is publishing Flash Manufacturing PMI, Flash Services PMI and New Home Sales data, while Canada is reporting CPI, Common CPI, Trimmed CPI and Core CPI figures. Finally, Fed Reserve Member, Jerome Powell, is due to speak.