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Danske Daily - 22 June 2018

Published 06/22/2018, 05:24 AM
Updated 05/14/2017, 06:45 AM

Market movers today

It is time for flash euro area PMI for June. It will be interesting to see if there is any effect of the recent deterioration on the trade front. The data is typically collected from the 12-21 in the month. Manufacturing PMI has fallen for five consecutive months and after peaking at 60.6 in December 2017, it fell to 55.5 in May 2018. We expect a further fall to 54.8 in June. Service PMI has seen a similar development, declining from 58.0 in January to 53.8 in May. We expect service PMI to fall to 53.7 in June from 53.8 in May.

Markit PMI for the US is also due to be released. The manufacturing index has moved up since mid-2017. However, we look for some moderation as hard data on exports, investment orders and consumption has been soft. We expect a decline from 56.4 in May to 56.0 in June.

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