This week, key economic players such as Germany, the UK, and the US will publish their flash manufacturing PMI and flash services PMI figures. These releases have the potential to impact market volatility. We advise traders to stay cautious and keep an eye on the latest updates.
Here are some notable highlights for the week:
Germany’s manufacturing PMI declined from 40.6 in June 2023 to 38.8 in July 2023, marking deteriorating business conditions within the country’s manufacturing sector. This figure for July is also the lowest reading since May 2020.
Meanwhile, the UK’s manufacturing PMI for the same period fell from 46.5 to 45.3. In contrast, the US’ manufacturing PMI for the same period increased from 46.3 to 49.
The next set of data will be released on 23 August. Analysts predicted manufacturing PMIs are 38.6 for Germany, 46.2 for the UK, and 49.5 for the US.
Germany’s services PMI declined from 54.1 in June 2023 to 52.3 in July 2023, indicating the slowest growth in five months. Similarly, the UK’s services PMI declined from 53.7 to 51.5 during this period, making July the third consecutive month of slowing activity across the country’s service sector. Finally, the US’ services PMI also fell from 54.4 to 52.3 during the same period.
Analysts’ predicted services PMIs for August 2023 are as follows: Germany at 51.5, the UK at 53, and the US at 52.
Germany’s Ifo Business Climate Index fell for the third consecutive month in July 2023, indicating pessimistic expectations for the coming months. The July figure of 87.3 is also the lowest level since November 2022.
The figure for August 2023 will be released on 25 August, with analysts expecting a reading of 86.9.
The Jackson Hole Economic Symposium is an annual symposium that focuses on key economic issues affecting the world.
Its participants include prominent financial figures and leading market players from all around the globe. Proceedings from the symposium might hence have an impact on market sentiment and movements.
Education
Company
FAQ
Promotion
Risk Warning: Trading CFDs carries a high level of risk and may not be suitable for all investors. Leverage in CFD trading can magnify gains and losses, potentially exceeding your original capital. It’s crucial to fully understand and acknowledge the associated risks before trading CFDs. Consider your financial situation, investment goals, and risk tolerance before making trading decisions. Past performance is not indicative of future results. Refer to our legal documents for a comprehensive understanding of CFD trading risks.
The information on this website is general and doesn’t account for your individual goals, financial situation, or needs. VT Markets cannot be held liable for the relevance, accuracy, timeliness, or completeness of any website information.
Our services and information on this website are not provided to residents of certain countries, including the United States, Singapore, Russia, and jurisdictions listed on the FATF and global sanctions lists. They are not intended for distribution or use in any location where such distribution or use would contravene local law or regulation.
VT Markets is a brand name with multiple entities authorised and registered in various jurisdictions.
· VT Global Pty Ltd is authorised and regulated by the Australian Securities & Investments Commission (ASIC) under licence number 516246.
· VT Global is not an issuer or market maker of derivatives and is only allowed to provide services to wholesale clients.
· VT Markets (Pty) Ltd is an authorised Financial Service Provider (FSP) registered and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 50865.
· VT Markets Limited is an investment dealer authorised and regulated by the Mauritius Financial Services Commission (FSC) under license number GB23202269.
· VTMarkets Ltd, registered in the Republic of Cyprus with registration number HE436466 and registered address at Archbishop Makarios III, 160, Floor 1, 3026, Limassol, Cyprus.
Copyright © 2024 VT Markets.