Welcome to Extreme Investor Network! Today, we are diving into the upcoming market events that will impact investor sentiment.
Later this morning, preliminary private sector PMIs for the Eurozone will be released, drawing the attention of investors. Economists are predicting an increase in the HCOB Services PMI from 53.3 to 53.5 and a rise in the HCOB Manufacturing PMI from 45.7 to 46.2 in May.
It’s not just about the headline numbers – factors like input and output price trends, job creation rates, and new orders will all play a role in market movement.
On the other side of the pond, US private sector PMI and jobless claims data will also be on the radar. The S&P Global Services PMI is expected to hold steady at 51.3, while the S&P Global Manufacturing PMI is forecasted to remain at 50.0. The focus will likely be on the services sector, which accounts for over 70% of the US economy.
Additionally, housing services inflation is a key consideration for the Fed. While the Services PMI may impact sentiment towards the Fed rate path, US jobless claims could also have an impact. Economists are anticipating a decrease in initial jobless claims from 222k to 220k in the week ending May 18.
Stay tuned to Extreme Investor Network for more updates and analysis on the latest market movements and trends. We provide expert insights and unique perspectives to help you navigate the world of trading and investing with confidence.