Quite a busy Monday for market announcements with most of the data emanating from Europe and the US.

The data out of Europe includes: Swiss Retail Sales, European & Italian Monthly Unemployment Rate, Italian, Spanish & Swiss Manufacturing PMI’s and European, German & French Final Manufacturing PMI’s. The most significant figures released by Europe are the PMI’s. These PMI figures give us an indication on the strength of the manufacturing sector throughout Europe. This is vital as the manufacturing sector makes up a large part of European economies. This particularly the case with Germany as they have a large automotive industry, which accounts for a significant portion of their economy.

The US is publishing a few pieces of data. This includes: Final Manufacturing & ISM Manufacturing PMI’s, Construction Spending, ISM Manufacturing Prices and Total Vehicle Sales. As with Europe, the most significant figures out of the US are the PMI’s. Manufacturing is an important part of the US economy. On top of this, President Donald Trump has promised to revive the much-maligned sector during his election campaign. Although, since being elected, he has had difficulties enacting his policy agenda. It will be intriguing to see if there is any significant change in the manufacturing figures. Will the figures match the Trump rhetoric?

Elsewhere around the world, China is publishing Caixin Manufacturing PMI data, Japan is reporting Consumer Confidence figures and the UK is releasing Manufacturing PMI data. Finally, UK MPC Member, Andy Haldane, is speaking and there is a public/bank holiday in the US tomorrow night (Independence Day). Therefore, tonight is the last trading day before this holiday starts.