US and UK manufacturing data amongst market movers today – Danske Bank

Analysts at Danske Bank suggest that on a day where much of Asia and Europe are out for holiday, the main event is US ISM manufacturing and they expect a fall from 59.3 to 58.0.

Key Quotes

“Looking ahead, we expect a further decline over the coming months but stress that ISM manufacturing has been elevated for quite some time now compared with other indicators and hard data.”

“In the UK, we expect the manufacturing PMI to remain unchanged at 55.1 as it is already below the equivalent euro area index. Note that on Thursday we will get the service PMI.”

“Overnight, we will get Caixin PMIs in China, where we expect a moderate decline in the manufacturing index as was the case with the official PMIs released yesterday morning.”