feedback
The FxPro Analyst Team

Services PMI Data for UK Expected to Show Further Weakness

ECEVBLGCRTV

At 07:15 GMT, Spanish Markit Services PMI (Mar) will be out with an expected headline number of 56.0 and a prior reading of 57.3. The consensus is for a further softening from the high of 58.3 created in July. However, the data has experienced a strong rebound in February and March, exceeding expectations on both occasions. The data is down from a high of 60.3 in 2015. EUR pairs may see an impact from this data release.

At 07:15 GMT, Swiss Consumer Price Index (YoY) (Mar) is expected to be 0.7% against the previous 0.6%. CHF pairs may be affected by this data.

At 07:55 GMT, German Markit Services PMI (Mar) is expected to be unchanged at 54.2. After reaching a multi-year high of 57.3 in February, this data has come back into a range under 56.0. German Markit PMI Composite (Mar) is also expected to be unchanged at 55.4. Traders will be watching for the numbers to deviate from expectations and create volatility in EUR pairs.

At 08:00 GMT, Eurozone Markit Services PMI (Mar) is expected to be unchanged at 55. This figure is expected to slip back after hitting a high of 58.0 in February. Markit PMI Composite (Mar) is also expected to be unchanged at 55.3. EUR crosses may be impacted by this data release.

Ea_CompPMI_180405

At 08:30 GMT, UK Markit Services PMI (Mar) is expected to come in at 54.0 from 54.5 previously. This data is continuing to decline from a high of 62.5 in 2013 but for now, it is comfortably holding above 53.0, showing modest growth. GBP crosses may move on the results of this release.

UK_ServPMI_180405

At 12:30 GMT, US Trade Balance (Feb) is expected to be $-56.8B against $-56.6B previously. This shows a further decline to 2008 levels. Continuing Jobless Claims (Mar 23) is expected to be 1.849M against a previous 1.871M. Initial Jobless Claims (Mar 30) is expected to be 225K from 215K previously. These jobs figures indicate that Unemployment is at the lowest levels in years, with strong positive implications for the US economy. USD pairs may be moved by this data.

US_Claims_180405

At 12:30 GMT, Canadian International Merchandise Trade (Mar) is expected to be $-2.00B against a previous number of $-1.91B. CAD pairs may be moved by this data.

At 17:00 GMT, US FOMC Member Bostic is due to speak about financial literacy at the University of South Florida, in Sarasota. Audience questions are expected and comments may result in moves in USD crosses.