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3 Feb 2016
US ISM, UK services PMI and Eurozone retail sales due today – Danske Bank
FXStreet (Delhi) – Research Team at Danske Bank, lists down the key economic releases for the day.
Key Quotes
“US ISM non-manufacturing is released at 16:00 CET and we expect the index to be stable at the current level (55.3) suggesting that the service sector continues to grow at a moderate pace.
Euro area retail sales for December are due at 11:00 CET and the focus is likely to be on any impact of the lower oil price and continued progress in the labour market. We expect to see a small monthly increase on the back of the drop in the oil price. Overall, we look for private consumption to continue to be an important driver of the euro area recovery and we expect the very low oil price to have a positive impact in Q1.
The UK services PMI index (released 10:30 CET) is expected to stay at the current level, suggesting that the moderate growth will continue to be driven by services.”
Key Quotes
“US ISM non-manufacturing is released at 16:00 CET and we expect the index to be stable at the current level (55.3) suggesting that the service sector continues to grow at a moderate pace.
Euro area retail sales for December are due at 11:00 CET and the focus is likely to be on any impact of the lower oil price and continued progress in the labour market. We expect to see a small monthly increase on the back of the drop in the oil price. Overall, we look for private consumption to continue to be an important driver of the euro area recovery and we expect the very low oil price to have a positive impact in Q1.
The UK services PMI index (released 10:30 CET) is expected to stay at the current level, suggesting that the moderate growth will continue to be driven by services.”