German PMI indices for the private sector are impressive, and the PMI for services increased in May from 53.2 to 53.9

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This morning, investors’ interest will also be aroused by preliminary private sector PMIs for the euro zone. Economists forecast that in May, the HCOB Services PMI will increase from 53.3 to 53.5, and the HCOB Manufacturing PMI will increase from 45.7 to 46.2.

In addition to the headline numbers, trends in input and output prices, the pace of job creation and new orders must be taken into account.

Data on PMI and the number of unemployed people from the private sector in the US will also be taken into account. Economists expect the S&P Global Services PMI to hold steady at 51.3.

Additionally, economists forecast that the S&P Global Manufacturing PMI will remain at 50.0. The focus is likely to be on the services sector. The service sector accounts for over 70% of the U.S. economy. Moreover, housing service inflation is a focus of the Fed’s attention.

While the Services PMI will likely impact sentiment on the Fed’s interest rate path, U.S. jobless claims could move the dial. Economists expect jobless claims to decline from 222,000 in the week ending May 18. up to 220 thousand