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Tuesday June 2, 2009 - 16:57:28 GMT
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FX Blog - Economic Data Preview For Wednesday
Big day for data with Service PMIs due. Watch mortgage stats they can tell a lot about the housing sector. ADP data are very unreliable but they cannot be ignored in case they are correct. The data will influence professional forecasts for the jobs data on Friday.
EZ- Service PMI- important- Service sector largest portion of economy. Seen better.
UK- Service PMI- important- Service sector largest portion of economy. Seen better
EZ- PPI- important- ECB targets inflation. Large negative number seen.
EZ- GDP- important- 1Q09 revision.
US- Mortgage Statistics- important- leading housing indicator.
US- ADP Jobs- important- unreliable forecaster of Friday employment data. Seen weaker.
US- Service PMI- important- Service sector largest portion of economy. Seen better.
US- Factory Orders- important- key manufacturing indicator. Seen better.
US- Weekly Oil Inventories- important- has a major impact on oil prices.
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