US: Focus on manufacturing and service PMIs – Danske Bank

In the US, the Markit PMIs for both manufacturing and service are due for release and are going to be the key economic release for today’s session, according to analysts at Danske Bank.

Key Quotes

“In July, manufacturing PMI took a large jump to 53.3, up from 52.0 in June, ending a five-month streak of declines. We expect the August figure to have remained around the 53.3 level. Service PMIs have shown a rising trend over the past four months, climbing from 52.8 in March to 54.7 in July. We expect the August figure to continue upwards to 55.0.”

“Other events will be the Fed's Robert Kaplan speaking (voter, dove) and US new home sales.”