EUR/GBP:Economic Outlook and Forex Analysis: PMI Data and Trend.

24 Mei 2023

In May, the Preliminary French S&P Global Manufacturing PMI is expected to be 46.0, while the Preliminary French S&P Global Services PMI is predicted to be 54.2, and the Preliminary French S&P Global Composite PMI is anticipated to be 52.3. Traders can compare these figures to the April data, which reported the French S&P Global Manufacturing PMI at 45.6, the French S&P Global Services PMI at 54.6, and the French S&P Global Composite PMI at 52.4.

Similarly, for Germany, the Preliminary German S&P Global Manufacturing PMI for May is forecasted at 45.0, the Preliminary German S&P Global Services PMI at 55.5, and the Preliminary German S&P Global Composite PMI at 53.5. Traders can refer to the April figures of the German S&P Global Manufacturing PMI (44.5), the German S&P Global Services PMI (56.0), and the German S&P Global Composite PMI (54.2) for comparison.

Moving to the Eurozone, the Preliminary Eurozone S&P Global Manufacturing PMI for May is expected to be 46.2, the Preliminary Eurozone S&P Global Services PMI at 55.6, and the Preliminary Eurozone S&P Global Composite PMI at 53.7. These figures can be compared to the April data for the Eurozone: the S&P Global Manufacturing PMI (48.5), the S&P Global Services PMI (56.2), and the S&P Global Composite PMI (54.1).

In terms of the Eurozone's Current Account (s.a) for March, it is predicted to be -€20.2B. Traders can compare this to the February figure, which was reported as €24.3B.

Shifting focus to the UK, the predicted UK Public Sector Net Borrowing for April is £17.50B, while the UK Public Sector Net Borrowing excluding Banking Groups is expected to be -£0.57B. These figures can be compared to the March data, which reported UK Public Sector Net Borrowing at £20.71B and UK Public Sector Net Borrowing excluding Banking Groups at £18.87B.

Finally, the Preliminary UK S&P Global Manufacturing PMI for May is forecasted at 48.0, the Preliminary UK S&P Global Services PMI at 55.5, and the Preliminary UK S&P Global Composite PMI at 54.6. Traders can refer to the April figures of the UK S&P Global Manufacturing PMI (47.8), the Preliminary UK S&P Global Services PMI (55.9), and the Preliminary UK S&P Global Composite PMI (54.9) for comparison.

Considering the EUR/GBP currency pair the question remains whether the bulls will overpower the bears and exert pressure on the EUR/GBP towards its horizontal resistance area.