Free Trial

BCCh Economist Survey Results Published


Libya’s Oil Output Steady At 1.2MBPD


Spending Bill Moves to Lower House

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
EUROPEAN DATA: The highlight of the morning will be the France, Germany,
Eurozone and UK PMIs (data team preview at 7:50BST). Consensus for the services,
manufacturing and the composite PMIs are all above 50 (with the exception of the
German manuf PMI). We would remind our readers that the PMIs answer questions
asking whether things are better, worse or unchanged. A lot of things should
have got better for a lot of businesses in July so readings above 50 make sense.
- With wide confidence bands around the data we think that we would need to see
a decent surprise to expectations in order to have a noteworthy market impact.
For the upside, we think for the market to move into a risk positive mood we
would need to see beats of 5-6 points. Next objective for EURUSD is 1.1657 and
for GBPUSD the next resistance is at 1.2768 with key resistance at 1.2813.
- On the downside, misses by about 3 points would keep most PMIs below 50 and
leave the market more cautious about the pace of the economic recovery across
Europe and the UK. In terms of key technical levels we continue to monitor the
ascending triangle in Bunds with a break of 176.95 opening moves to 177.77 with
next key gilt resistance at 138.48.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.