Key focus on Canada CPI and US Flash Services today. After recent U.S economic data which renewed uncertainty over how high interest rates may ultimately rise in Fed policy. From the UK Flash Manufacturing PMI and Flash Services PMI will bring clutter for Pound and base metal. Canada Inflation and Retail sales data watched today.
Global commodities had a mixed trade yesterday. Gold and silver traded sideways amid uncertainty of the fed rate. Crude Oil prices edged higher, buoyed by optimism over Chinese demand. A continued production curbs by major producers and Russia’s plans to rein in supply. Base metals remained somewhat positive. Now, today a bunch of economic data from Eurozone, UK, Canda and US is lined up which expects to bring clutter for market.
Today, US Flash Services PMI will be a key data for the focus. After recent U.S economic data which renewed uncertainty over how high interest rates may ultimately rise in Fed policy. From the UK Flash Manufacturing PMI and Flash Services PMI will bring clutter for Pound and base metal. Canada Inflation and Retail sales data watched today.
Economic calendar and possible impact
Japan Flash Manufacturing PMI at 6am. Data foreseen at 49.3, previous reading was at 48.9.
Eurozone data
French Flash Manufacturing PMI at 1.45pm, data foreseen at 51.0, previous reading 50.5.
French Flash Services PMI at same time, data foreseen at 49.7, previous was at 49.4.
German Flash Manufacturing PMI at 2.00pm, data foreseen at 48.0, pervious was at 47.3
German Flash Services PMI at same time, data foreseen at 51.0, previous was 50.7.
Flash Manufacturing PMI at 2.30pm, data foreseen at 49.4, previous was at 48.8
Flash Services PMI at same time, data foreseen at 51.0, previous was at 50.8.
German ZEW Economic Sentiment at 3.30pm, data foreseen at 22.8, previous was at 16.9.
ZEW Economic Sentiment at same time, data foreseen at 22.3, previous was at 16.7
All above the economic data from the Eurozone will have a positive impact on Euro and bullions.
U.K. Data
Flash Manufacturing PMI at 3.00pm, data foreseen at 47.5, previous was at 47.0
Flash Services PMI at same time, data foreseen at 49.2, previous was at 48.7.
Both data expect to have a positive impact on the pound based on forecast.
Canada
Consumer price index m/m at 7.00pm, data foreseen at 0.7%, previous was at -0.6%.
Median CPI y/y at same time, data foreseen at 4.9%, previous was at 5.0%.
Trimmed CPI y/y at same time, data foreseen at 5.2%, previous was at 5.3%.
Core Retail Sales m/m at same time, data foreseen at -0.1%, previous was at -0.6%.
Retail Sales m/m at same time, data foreseen at 0.5%, previous data was at -0.1%
All above data expected to bring clutter for Canadian dollar and for bullions prices.
U.S.
Flash Services PMI at 8.15pm, data foreseen at 47.3, previous was at 46.8.
Flash Manufacturing PMI at same time, data foreseen at 47.4, previous was at 49.9.
Existing Home Sales at 8.30pm, data foreseen at 4.09m, previous was at 4.02m
All above data expect to have a mixed impact on dollar and for bullions.