Week Ahead for FX, Bonds: PMI Data, Middle East Conflict in Focus
Preliminary purchasing managers' surveys in the eurozone, U.K. and U.S. are among the biggest highlights in the week ahead. The surveys on manufacturing and services activity are an important indicator of economic growth. The data come amid concerns about President Trump's tariff policy and the Israel-Iran conflict.
Noting that the global PMI data for May signaled some improvements in current and expected future output growth, S&P economists said in a note: 'With tensions rising in the Middle East, pushing oil prices sharply higher, the flash PMI data will be keenly assessed to see whether April really represented 'peak gloom' in terms of business confidence, or whether executives consider the economic and political environment to have deteriorated further.'
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