US: Focus on PMI releases – Danske Bank

In the US, the Markit PMI manufacturing and services for June is due out which is likely to keep investors interest engaged, suggests the research team at Danske Bank.

Key Quotes

“Manufacturing PMI has cooled off since it peaked at 55 in January. The current level of manufacturing PMI points to GDP growth around 1.6% and even though this does not sound impressive, we believe that this level is representative of the underlying economic strength. Thus, we do not look for any significant changes to the PMI manufacturing. We expect PMI services to have increased to 54.2 and continue to believe that the moderate growth will be driven primarily by the service sector.”

“Also in the US, Fed governors Bullard (non-voter, dove), Mester (non-voter, hawkish) and Powell (voter, neutral) are due to speak today.”