The main focus today is euro PMIs. We expect the manufacturing PMI to declinefurther due to the lagged effect of the global slowdown in Q1. On the other handthe service PMI should increase slightly from the current level of 53.2. This shouldfollow as it is mainly driven by domestic demand, which continues to improve.
In the US we expect the preliminary version of the Markit PMI index for June toincrease as manufacturing production and regional surveys have generally beenrobust lately.
US existing home sales is also due for release and we expect a further increase assuggested by pending home sales figures for the past couple of months.
There are also a number of central bank speeches with ECB’s Constancio, Merschand Nowotny having the opportunity to give their view on the ECB’s latest easingmeasures. Bank of Japan Governor Kuroda will also speak today.
There are no key figures out of Scandinavia today.
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