Forex Today: PMI surveys kickstart all-important central bank week – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Financial markets stay relatively calm early Monday and major currency pairs trade near the previous week's closing levels. S&P Global will release preliminary Manufacturing and Services PMI surveys for Germany, the Eurozone, the UK and the US later. The Federal Reserve Bank of Chicago's National Activity Index will also be featured in the US economic docket ahead of this week's critical central bank policy meetings.
The data from Australia showed that the S&P Global Composite PMI declined to 48.3 in July from 50.1 in June, revealing a contraction in the private sector's business activity.Jibun Bankin Japan declined to 49.4 in July and the Services PMI stood unchanged at 52.1. In the meantime, "the Bank of Japan is likely to revise inflation projections up," said Japan's top currency diplomat Masato Kanda ahead of Friday's policy announcements.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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