PMIs back on the agenda in Europe today

The dollar continues to keep somewhat resilient on the week, with major currencies not showing too much appetite. USD/JPY remains a standout though, as the pair climbs to 159.00 – its highest level since Japan intervened on 29 April. No stopping traders from dancing to the beat there.

In other markets, European equities bounced back a little yesterday while US stocks ended slightly lower after the record highs on Wednesday. The overall mood remains optimistic although in Europe, political woes are still weighing on things from a regional perspective.

Looking to the session ahead, there will be some decent economic releases to work through. The highlight will be the French, German, and Eurozone PMIs for June. That will provide some idea as to the resilience of the economy after the better showing in Q1.

For the UK, we’ll also get PMI data and it will come alongside the retail sales numbers for May. The estimates for the latter point to a rebound but it has been countless times now that UK retail sales have disappointed on expectations. Will we get another repeat of that today? That will keep sterling in focus as well after the post-BOE drop yesterday.

0600 GMT – UK May retail sales data0645 GMT – France June business confidence0715 GMT – France June flash manufacturing, services, composite PMI0730 GMT – Germany June flash manufacturing, services, composite PMI0800 GMT – Eurozone June flash manufacturing, services, composite PMI0830 GMT – UK June flash manufacturing, services, composite PMI

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.