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The FxPro Analyst Team

UK Construction PMI expected to weaken further

At 08:30 GMT, UK Construction PMI (May) will be out with an expected headline number of 49.7 from a prior number of 52.5. The consensus is for a drop in the numbers today after a recovery from the low created in April at 47.0. The industry slipped back under 50.0 from the high levels of 2014 at 64.6 showing contraction in the index but has recovered somewhat. GBP pairs may see an impact from this data release.

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At 09:00 GMT, Eurozone Producer Price Index (YoY) (Apr) is expected to be 2.4% against the previous 2.1%. Producer Price Index (MoM) (Apr) is expected to be 0.4% against the previous 0.1%. The recovery in the Euro area is weaker but growing despite some sluggish economic data. PPI data is in danger of slipping under 0.0% signalling falling prices. EUR crosses can be impacted by this data release.

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At 15:00 GMT, US Factory Orders (MoM) (Apr) are expected to be -0.3% from 1.6% previously. If the decrease in expectations comes to pass it represents a small drop as the recent range of this data point over the last three years has been between +3% and -3.5%. USD crosses can be moved by this data.

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Major data releases for this week:

On Tuesday at 04:30 GMT, the RBA Interest Rate Decision and Rate Statement will be released.

On Wednesday at 01:30 GMT, Australian Gross Domestic Product data will be published.

On Thursday at 09:00 GMT, Eurozone Gross Domestic Product data will be released.

At 15:15 GMT, BOC Governor Poloz will speak at a press conference about the Financial System Review, in Ottawa.

On Friday at 13:30 GMT, Canadian Jobs data will be released.