Market overview - forecasts for the economies of the USA, Europe, Britain, corporate news of companies
• The Eurozone economy accelerated to its highest level in a year. The composite PMI rose from 51.7 to 52.3. In the services sector, stability is 53.3. The manufacturing sector has reduced the rate of decline from 45.7 to 47.4 (46.2 was expected - values below 50 mean a decline).
Traders are forecasting a 58 basis point cut by the European Central Bank in 2024, down from 67 at the start of the week following key payroll data.
The ECB has long pinned hopes of a rate cut on this important wage measure but has essentially committed to easing policy on June 6, so the new figures are...