European markets have opened in the red today, as traders opted to remain on the sidelines ahead of this week’s crucial European Central Bank (ECB) policy meeting. Weaker-than-estimated Eurozone inflation data released yesterday added pressure on the ECB to introduce measures to avert the deflation risk.
Closer home, traders await data which is expected to show that the Markit services PMI dropped to a reading of 58.2 in May from a reading of 58.7 in the previous month. Later, revised Eurozone GDP, US ADP employment and ISM non-manufacturing data will attract market attention.
European markets have opened in the red today, as traders opted to remain on the sidelines ahead of this week’s crucial European Central Bank (ECB) policy meeting. Weaker-than-estimated Eurozone inflation data released yesterday added pressure on the ECB to introduce measures to avert the deflation risk.
Closer home, traders await data which is expected to show that the Markit services PMI dropped to a reading of 58.2 in May from a reading of 58.7 in the previous month. Later, revised Eurozone GDP, US ADP employment and ISM non-manufacturing data will attract market attention.
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