The final value of the Eurozone's manufacturing PMI in May was slightly revised down, but it still hit a 14-month high.

The contraction rate of Eurozone manufacturing has slowed for the third consecutive month, and production activities are approaching stability. In addition, the contraction of new orders, exports, and purchasing activities has also slowed, and business confidence has further increased. According to the HCOB report published by S&P Global on Monday, the final value of the Eurozone manufacturing PMI in May was 47.3, down 0.1 percentage point from the initial value of 47.4, but still a 14-month high, compared to 45.7 in April. The manufacturing business climate is still declining, but the degree of decline has dropped to the lowest level in more than a year. The output index in May rose to 49.3, also a 14-month high, indicating that production continues to trend towards stability.

wallstreetcn07:00 ET

In May, the United Kingdom's manufacturing PMI returned to the expansion range, and factory prices reached their largest increase in a year.

According to a survey released on Monday, the United Kingdom's manufacturing industry resumed growth last month after a long period of slowdown, but rising prices by businesses may make the Bank of England cautious about cutting interest rates.

Zhitong Finance06:54 ET

German Economy Minister: Expect European Central Bank to begin a loose cycle soon, hoping for further interest rate cuts in the future.

Zhītōng Cáijīng APP learned that German Economy Minister Ha Beck stated that he hopes the European Central Bank will further reduce interest rates after the expected monetary easing cycle beginning this week. Ha Beck said at an East German business forum in Badasalo near Berlin on Monday: "The inflation rate is falling back to 2%. I believe that the European Central Bank will soon lower key interest rates and hope that interest rates will be further reduced afterwards." Currently, it is widely expected that the European Central Bank will cut interest rates by 25 basis points on Thursday, reducing the deposit rate from last year's record high of 4% to 3.75%. Chief European economist at Morgan Stanley.

Zhitong Finance05:28 ET

EUR/GBP Rises Toward 0.8550 as HCOB Manufacturing PMI Reaches the Highest Since March 2023

ECB is expected to deliver a 25-basis point rate cut on Thursday

FXStreet05:26 ET

ECB Expected to Refrain From Further Promises After Likely Cut This Week -- Market Talk

The European Central Bank will likely cut interest rates by 25 bps this Thursday, but it will make no further promises given somewhat stickier inflation and wages, apart from being data dependent, Nerijus Maciulis, analyst at Swedbank, says in a note.

WSJ04:54 ET

German Minister Expects ECB Rate Cut Soon, Hopes More Follow

German Economy Minister Robert Habeck said he hopes more interest-rate cuts will follow after the European Central Bank begins its widely anticipated monetary easing cycle this week.

BNN Bloomberg04:22 ET