US PMI data set to signal economic activity extended in May

S&P Global PMI s are expected to indicate some loss of momentum in US economic activity in May. Manufacturing and Services prints are seen almost unchanged this month. EUR/USD remains on the back foot so far this week. On Thursday, S&P Global will issue its flash estimates of the United States Purchasing Managers Indexes , a monthly survey of business activity. The survey is separated into services and manufacturing output and aggregated into a single statistic, the Composite PMI .

0981 seconded by the weekly top of 1.0998 , all followed by the psychological 1.1000 yardstick.” Pablo adds: “On the downside, a sustainable breach of the key 200-day SMA at 1.0787 should shift the near-term outlook to bearish, allowing extra weakness to potentially retest the May low of 1.0649 ahead of the 2024 bottom of 1.0601 .

Source: News Formal (newsformal.com)

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