Today's Economic Events: Inflation Level and U.S. Economy Outlook

Today’s economic calendar features important data from Europe and the United States. During the European session, final manufacturing PMI indices for key Eurozone countries and the UK will be released. Although these figures are unlikely to influence central bank policies significantly, they could still have a minor impact on market sentiment. Additionally, Switzerland is set to release its Consumer Price Index (CPI), expected to show a modest annual inflation rate of 0.4%. The Swiss National Bank (SNB) is anticipated to remain on hold until the end of 2027 unless there is a significant change in the outlook for inflation. Given the ongoing developments between the United States and Iran, market focus will likely remain on global economic dynamics, particularly the near-term outlook for the U.S., where the ISM Manufacturing PMI is forecasted to rise slightly from 53.3% to 53.9%. Despite this minor increase, the agency noted a concerning intensification of supply chain delays and renewed price pressures, which could constrain manufacturing growth and temper demand.