In the US session Trade Balance and ISM Non-Manufacturing PMI data was published. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.7 billion in July, up $0.1 billion from $43.5 billion in June, revised. July exports were $194.4 billion, $0.6 billion less than June exports. July imports were $238.1 billion, $0.4 billion less than June imports.
Economic activity in the non-manufacturing sector grew in August for the 92nd consecutive month, say the nation’smpurchasing and supply executives in the latest NonManufacturing ISM® Report On Business®. The NMI® registered 55.3 percent. This represents continued growth in the non-manufacturing sector at a faster rate. The NonManufacturing Business Activity Index increased to 57.5 percent, 1.6 percentage points higher than the July reading of 55.9 percent, reflecting growth for the 97th consecutive month, at a faster rate in August.
Focus of tomorrow's session will be on ECB interest rate decision and the following press conference though analysts do not expect any change. In the US session Unemployment Claims data will be published. Analysts anticipate increase to 245,000.
Figures to watch:
Minimum Bid Rate/ECB Press Conference (Thursday 14:30)
Unemployment Claims (Thursday 14:30)
