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  • Article / 3 hours ago

    3 Numbers: EU retail sales soften, US jobs, US services

    editor/analyst /
    United States
    3 Numbers: EU retail sales soften, US jobs, US services
    A number of economic releases are expected today including the June retail spending figures for the Eurozone. Analysts are expecting a softer rate of growth for this release but if that occurs, it's likely to be dismissed as a one-off event. Meanwhile, in the US, private payrolls are expected to deliver a solid gain, while the market is expecting a solid rate of growth in the US services sector.
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  • Squawk / Monday at 14:09 GMT
    Head of Macro Strategy / Saxo Bank
    ISM manufacturing retraces from 5-month high:

    Manufacturing continued to expand in the US last month, but it did so at a slightly slower pace than in May and June with the headline index at 52.7 vs. 53.5 a month earlier (and 52.8 in May). Consensus had expected an unchanged reading of 53.5.

    The July ISM manufacturing report is a mixed bag with new orders among the highlights. The forward-looking component rose to 56.5 from 56, a six-month high, and the production index also gained to 56 from 54. Employment, on the other hand, dropped to 52.7 from 55.5.

    The employment component is interesting considering that the US employment report will be released on Friday. Consensus currently looks for an increase of 225,000 in July following a gain of 223,000 in June.
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