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Prior 55.9Composite PMI 54.0 vs 53.9 prelimPrior 54.9Little change to the initial estimates as UK services activity continues to keep more robust in May. A strong rise in output and new work is helping to underpin the expansion. S&P Global notes that:"Service...

Prior -13.1Euro area investor morale darkens, dragged down by negative expectations for Germany. This won't do much to quell recession fears, especially when Europe's largest economy is showing notable softness as its manufacturing sector slumps heavily.MoneyMaker FX...

Gold (XAU/USD) daily chartA stronger dollar and higher yields have sent gold bugs reeling since the end of last week and the pressure is continuing today. The drop today now sees price run into yet another test of the 100-day moving average (red line), where we did...

> SNB total sight deposits w.e. 2 June CHF 519.0 bn vs CHF 516.7 bn prior Latest data released by the SNB - 5 June 2023 <!--> Justin Low Monday, 05/06/2023 | 08:00 GMT-0 05/06/2023 | 08:00 GMT-0 --> <!--> Domestic sight deposits CHF 504.5 bn vs CHF...

> Eurozone May final services PMI 55.1 vs 55.9 prelim Latest data released by HCOB - 5 June 2023 <!--> Justin Low Monday, 05/06/2023 | 08:00 GMT-0 05/06/2023 | 08:00 GMT-0 --> <!--> Prior 56.2Composite PMI 52.8 vs 53.3 prelimPrior 54.1 ADVERTISEMENT...

Prior 56.0Composite PMI 53.9 vs 54.3 prelimPrior 54.2The slight revisions lower aren't anything much as the German services sector continues to maintain a strong growth momentum in May. That said, high price pressures are still persistent and that is going to remain a...

Prior 54.6Composite PMI 51.2 vs 51.4 prelimPrior 52.4A slight revision lower to the initial estimates but it still shows a slowdown in French services activity. Demand conditions are seen waning while an acceleration in output price inflation isn't helping to lift the...

Prior 57.6Composite PMI 52.0 vs 54.0 expectedPrior 55.3Despite the miss on estimates, Italy's services sector continues to reflect modest growth even as overall conditions have softened. Business confidence remains positive but cost inflation remaining high is still a...

Next week is anticipated to be relatively calm, although there are several significant economic events that warrant attention.The week kicks off on Monday with two key events for the United States: the release of the ISM Services PMI data and the factory orders...

The bond market was the one dictating the mood among major currencies at the end of last week. And that narrative is continuing today as well. USD/JPY caught a strong bounce on Friday towards 140.00 and is building on that, climbing another 0.3% to 140.39 at the...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

UPCOMING EVENTS:Monday: US ISM Services PMI.Tuesday: RBA Policy Announcement.Wednesday: BoC Policy Announcement.Thursday: US Jobless Claims.Monday: The ISM Services PMI is expected to come a tick lower at 51.8 vs. 51.9 prior. The market will focus particularly on the...

Eurostoxx flatGermany DAX +0.2%France CAC 40 flatUK FTSE +0.3%Spain IBEX +0.1%Looking over to US futures, S&P 500 futures are down 0.1% with tech shares weighing. Nasdaq futures are down 0.3% while Dow futures are up 0.1% as overall sentiment remains more on the...

Prior +2.6%Core CPI +1.9% y/yPrior +2.2%The good news here is that both headline and core annual inflation are seen falling last month, consistent with the trend that we also saw in the euro area region. On a monthly basis, consumer price inflation is seen increasing...

That means two more rate hikes to go i.e. a 25 bps move in June and a similar one in July. That is consistent with the current market pricing, with a peak rate of 3.70% being priced in now.A move in June and then July seems to be what policymakers are clearly hinting...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...