Key Manufacturing PMIs in Focus
Key Manufacturing PMIs in Focus
China’s Caixin Manufacturing PMI for May was released at 02:45 AM, coming in at 51.7, up from the previous 51.4 and surpassing both the consensus and forecast of 51.5 and 50.5. This indicates an expansion in Chinese manufacturing activity, suggesting resilience in the world’s second-largest economy.
Key Manufacturing PMIs in Focus
At 07:55 AM, the Eurozone will report its HCOB Manufacturing PMI for May, with the forecast is holding steady at 45.4.
Later in the day, at 14:00, the U.S. will release its ISM Manufacturing PMI for May. The forecast is 49.8, slightly above the forecast of 49.2, but still indicating contraction (below 50).
Key Manufacturing PMIs in Focus
The Dollar held its ground on Monday, as traders bet that U.S. inflation might have moderated enough for the Federal Reserve to start considering rate cuts later in 2024. Meanwhile, the euro consolidated, as the market anticipated a rate cut from the European Central Bank this week. Against this backdrop, the GBP/USD pair started the week calmly, keeping within a narrow range around the mid-1.2700s during the Asian session.
Key Manufacturing PMIs in Focus