UK services PMI and FOMC Minutes amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that UK services PMI and FOMC minutes are amongst the major market moving economic releases today, which are likely to garner maximum investors’ attention.

Key Quotes

“Today, PMI services indices in June for several countries are due out. Especially the UK index may attract attention, as both the manufacturing and construction indices fell, suggesting GDP growth might have remained weak in Q2 after the slow growth in Q1.”

“In the Nordics, Swedish production data for May is due out at 09:30 CET and Norwegian house prices in June at 11:00 CET.”

“In the US, the FOMC minutes from the June meeting are due out at 20:00 CET. We will look out for comments on when the Fed will start 'quantitative tightening' (shrinking the balance sheet) and internal discussions about how the FOMC members see the trade-off between low unemployment and low inflation.”