• European markets set for higher opening
  • NFP report for May at 1:30 pm BST
  • Services ISM, PMI revisions

Futures markets point to a higher opening of today’s European cash session. Newsflow during the Asian session was light but indices from the region moved higher, following lead from Wall Street indices. Calendar for the day ahead holds one key report – NFP report for May. White House tried to cool down market expectations ahead of the releases and given that ADP was also weaker than expected, disappointing jobs data may be released today. Apart from the NFP data, traders will also be offered services ISM for May as well as services PMI revisions from Europe and US.

8:15 am BST – Spain, services PMI for May. Expected: 56.0. Previous: 57.1

8:45 am BST – Italy, services PMI for May. Expected: 54.5. Previous: 55.7

8:50 am BST – France, services PMI for May (final). First release: 58.4

8:55 am BST – Germany, services PMI for May (final). First release: 56.3

9:00 am BST – Euro area, services PMI for May (final). First release: 56.3

1:30 pm BST – US, NFP report for May.

  • Non-farm payrolls. Expected: 320k. Previous: 428k
  • Wage growth. Expected: 5.2% YoY. Previous: 5.5% YoY
  • Unemployment rate. Expected: 3.5%. Previous: 3.6%

2:45 pm BST – US, services PMI for May (final). First release: 53.5

3:00 pm BST – US, services ISM for May. Expected: 56.4. Previous: 57.1

Central bankers’ speeches

  • 6:00 pm BST – Fed Brainard
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