With U.S. markets closed yesterday, today’s focus shifts to the Purchasing Managers’ Index (PMI) for the manufacturing sector, due later this afternoon. Markets expect a rise to 47.5 signalling an improvement. While this is positive for the Federal Reserve, it remains below the 50-point mark that indicates growth.
As today’s U.S. data is the only significant economic release, attention will soon turn to the latter part of the week. The Non-Farm Payrolls report, the week’s most anticipated release is expected to show a recovery from last month’s weak numbers. This report will be crucial in shaping market sentiment and future policy decisions.
In the currency markets, the British pound continues to hold its strength against both the euro and the U.S. dollar. Despite economic uncertainties, the pound’s resilience underscores its stability in recent trading.
Investors and analysts will be closely monitoring these developments, as they could set the tone for the remainder of the month. Any surprises in the data could lead to heightened market volatility, particularly in the currency and equity markets.
As the week progresses, all eyes will be on the economic data, with significant implications for market movements and future policy direction.
For additional insights on how this could affect your business or to capitalise on market volatility – please reach out to speak to one of our experts.