The U.S. dollar was seen posting strong gains on the first trading day of the third quarter as the greenback rose 0.4% on the day. The gains coincided with the ISM’s manufacturing PMI rising to 60.2 in June beating estimates which forecast a decline to 58.5. Construction spending was also higher at 0.4% during the month of May.
In the UK, the manufacturing PMI from Markit showed that activity in the sector rose to 54.4, beating estimates of 54.1 and rising from 54.3 in the previous month.
Data for the day will be dominated by the UK’s construction PMI which, according to the median estimates is expected to rise modestly to 52.6. In May, construction activity was seen at 52.5.
The Eurozone retail sales data is due later with forecasts showing a 0.1% increase on the month. Canada’s manufacturing PMI is also due this afternoon.
Data from the U.S. will see the release of the factory orders report which is expected to show a 0.1% increase after factory orders posted a decline 0.8% the month before.
