"With US markets continuing to outperform the wider market, today’s session is expected to open slightly on the back foot, ahead of a raft of economic announcements this week," says
Ahead of the
"After last week's shocking downward revisions to first quarter (US) GDP, markets will be looking for signs this week that activity is rebounding strongly in the second quarter," says
MNI releases the results of its
Shortly after, the
"We’ve started to see a clear improvement in the housing data in recent months, which can be largely attributed to lower rates, that many in the markets had not been expecting," says
Still, the numbers are expected to remain relatively strong in May, with sales expected to rise 0.8%, following a 0.4% increase in April.
"The Chicago PMI and pending home sales are mere warm-ups for the rest of the week, but it will be interesting to see whether US markets can finish in a positive frame of mind for June after what was a rather perilous week for
US Manufacturing PMI is due on Tuesday, followed by ADP employment figures on Wednesday and culminating in Non-Farm Payrolls on Thursday.
Also ahead in the data calendar Monday, the Dallas Federal Reserve is scheduled to release the results of its survey of manufacturers in
Ahead of the data, the pound trades at
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