Market movers today
We face an important week in terms of the economic data calendar .Not least, Thursday will bring a key session with the ECB meeting, the UK general election and James Comey due to testify to the senate.
In the US , the final figures for PMI services for May and core capital goods orders for April are due out today. Services PMI increased to 54.0 in May, according to the preliminary numbers, whereas core capital goods orders were flat in April. This matches our view that progress is still being made in the services sector, but the manufacturing sector may be taking a breather for now. Today also brings ISM non-manufacturing for May, which has reached very high levels recently and may have run a bit ahead of itself.
In the UK , the PMI services index for May are due out today, which we estimate fell to 54.3 from 55.8. Focus will otherwise be on the polls as we approach Election Day on Thursday.
There are no significant market movers in Scandinavia today. The Danish and Norwegian markets are closed for Whit Monday today and that the Swedish market has half a day ahead of National day tomorrow.
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