Market Report

Published: 01/07/2022 By ECAP

Today saw the UK Manufacturing PMI hit the newswires and the data came in large in-line, which has seen the pound falter against the dollar. Naturally eyes fall towards the central bank interest rate decision meetings being held later this month, however before they take centre stage we are hit with a plethora of economic data, most notably FOMC meeting minutes and US non-farm payrolls due for release next week.

We've seen the EUR flash estimate of inflation released this morning, showing a slight movement higher to post a figure of 8.6% against the forecast 8.5% and the previous months reading of 8.1% as the headline figure, however the core inflationary data showed a contraction of 3.7% against the forecast 3.9%.

Later today see's the release of the US ISM Manufacturing data which is expected to post a slight slowdown in the sector, yet still a figure of expansion - should we see anything outside of forecasts expect to see some volatility on the greenback.