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What are the main events for today?

2024-12-30FOREXLIVEFOREXLIVE
Today the main highlight will be the US ISM Manufacturing PMI

Today the main event will be the US ISM Manufacturing PMI but we will get some minor economic releases before that. In fact, in the European session we have the Swiss Retail Sales, the Final S&P Global PMIs and the German inflation readings. These are low tier releases and shouldn't be market moving.

14:00 GMT/10:00 ET - US ISM June Manufacturing PMI

The US ISM Manufacturing PMI is expected at 49.0 vs. 48.7. We got a great S&P Global US Manufacturing PMI which increased to 51.7 vs. 51.3 prior and overall the data highlighted the fastest economic expansion for over two years, hinting at an encouragingly robust end to the second quarter while at the same time inflation pressures have cooled.

The survey also brought welcome news in terms of job gains, with a renewed appetite to hire being driven by improved business optimism about the outlook. Selling price inflation has meanwhile cooled again after ticking higher in May, down to one of the lowest levels seen over the past four years. Historical comparisons indicate that the latest decline brings the survey’s price gauge in line with the Fed’s 2% inflation target.

US ISM Manufacturing PMI
US ISM Manufacturing PMI

Central bank speakers:

  • 19:00 GMT/15:00 ET - ECB's Lagarde (neutral - voter)

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