Thursday can be called the day of the Manufacturing Purchasing Managers’ Index. Data on this important indicator is going to come out from Switzerland at 10:30 am (all times stated in GMT +3), the eurozone at 11 am, the UK at 11:30 am, Canada at 4:30 pm and the US at 5 pm. Figures for most of the countries are expected to fall. The Manufacturing PMI measures business activity in manufacturing sector and is calculated based on surveys of purchasing managers of the leading companies in the country about the current state of the economy and theirexpectations for the future. According to forecasts, Swiss SVME – PMIfor September is going to fall from 52.2 to 51.7 points but will remain above the level of 50, below which it stayed for 7 months in the beginning of the year. Markit Manufacturing PMI in the eurozone is going to remain at its previous level of 52.0, around which it keeps balancing since February. Markit Manufacturing PMI in the UK, however, can fall to its lowest level since April 2013 at 51.3 points, which could pressure the GBP. RBC Manufacturing PMI in Canada can decline to 49.4 points, and once it falls below the 50 points benchmark, that indicates a contraction of the business activity in the manufacturing sector. The index is likely to stay below 50 for September again. The US ISM Manufacturing PMI, released by the Institute for Supply Management, can fall to its lowest level since May 2013 of 50.7 points, which could significantly pressure the USD.
Amongst other news, attention needs to be paid to the data on Real Retail Sales (YoY) from Switzerland, which is due at 10:15 am. The figure is expected to grow by 0.3% for August,while it was falling for three previous months. On Thursday night at 4:30 am, Retail Sales s.a. (MoM) for August are due in Australia. The figure is forecasted to grow by 0.4% after it declined by 0.1% in July.Publication source