1) Global Services PMIs (Sep) – 05/10 – after the slowdown seen in Q2, the manufacturing sector has managed to hold up reasonably well. The recovery in the services sector has been another story with the recent flash PMIs in Germany and France slipping back into contraction territory. This is an increasing concern, particularly for the weaker countries like Italy and Spain who tried to boost economic activity by way of tourism in the summer months, and who now appear to be paying the price for that with increased infection rates, with Spain especially having to impose new stringent lockdowns. The additional imposition of quarantines and other travel restrictions in the last two months is likely to see further economic deterioration in September. In August Spain and Italy saw contractions of 47.7 and 47.1, and it’s unlikely that September will be much better, at a time when France services PMI

Watch our week ahead video preview, read our pick of the top stories to look out for this week (5-9 October), and view our key company earnings schedule.

Michael reviews this week’s price action in equity markets, reaction to President Trump’s Covid-19 diagnosis, and looks ahead to the latest FOMC minutes, RBA rate-meeting, UK data and Tesco’s half-year numbers. He also looks at the key levels on all the major indices, currencies and commodities, including Gold, crude oil and the US dollar.

Global services PMIs (September) 

Monday: After the slowdown of Q2, the manufacturing sector has managed to hold up reasonably well. The recovery in the services sector has been another story, with the recent flash PMIs in Germany and France slipping back into contraction territory. This is an increasing concern, particularly for the weaker countries like Italy and Spain who tried to boost economic activity by way of