020 7898 0500On a day when Trump took to Twitter to claim that he had the absolute right to pardon himself (but said he wouldn’t because he has done nothing wrong), US factory orders came in below forecast.
They had been expected to decline by 0.5%, but they actually slid by 0.8% which isn’t great news. However, it is entirely possible that the reading is just a temporary blip, with many recent manufacturing surveys showing optimism.
Today we will see composite and services PMI from the US. Composite is expected to dip a little, but services is expected to climb higher from the month before. We will also see non-manufacturing PMI.
