Sentiment in the markets were somewhat mixed with the safe haven, Japanese yen and gold prices rising on the day. The U.S. dollar was however seen stronger across most of the currencies.
The UK’s construction PMI came out stronger than expected as the index rose to 53.1. This beat forecasts of an increase to 52.6. The U.S. factory orders were seen rising 0.4% which also beat estimates of a 0.1% increase. The previous month’s data was seen revised to show a 0.4% decline.
Looking ahead, the economic data for the day will cover the services PMI from the Eurozone, including numbers from Germany and France. The final services PMI are forecast to remain unchanged at 55.0 as signaled from the preliminary estimates.
The UK’s services PMI is expected to fall slightly to 53.9 compared to 54.0. The U.S. markets are closed today due to the Independence Day bank holiday. The markets are expected to remain trading light toward the U.S. trading session.
