• S&P Global PMIs are expected to indicate business activity in the US continued to expand in April.
• Manufacturing and Services output are seen advancing at a moderate pace. 
• EUR/USD holds above 1.0600, near-term bearish bias remains intact. 

S&P Global will release the flash estimates of the United States (US) Purchasing Managers Indexes (PMIs) for April on Tuesday, a survey that measures business activity throughout the month. The report is divided into services and manufacturing output and compiled in a final figure, the Composite PMI. 

The economic activity in the US private sector expanded at a moderating pace in March, with the S&P Global Composite PMI edging lower to 52.1 from 52.5 in February. The Services PMI declined to 51.7 from 52.3 in this period, while the Manufacturing PMI fell to 51.9 from 52.2.
Commenting on the survey's findings, “further expansions of both manufacturing and service sector output in March helped close off the US economy’s strongest quarter since the second quarter of last year," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.

"The survey data point to another quarter of robust GDP growth accompanied by sustained hiring as companies continue to report new order growth," Williamson added. “A steepening rise in costs, combined with strengthened pricing power amid the recent upturn in demand, meant inflationary pressures gathered pace again in March."