Daily Forex News (2016.01.04)
Monday January 4
00:45 – China – Caixin Manufacturing PMI (Dec) – This data is compiled from a survey of over 400 Purchasing Managers, While not the official version of this number, it is closely watched. The last 2 months have seen a pickup in this data, although there are still concerns that the Chinese economy is slowing. An outlying number will most likely be reflected in AUD as well as equities.
08:55 – Germany – German Manufacturing PMI (Dec) – The plethora of PMI data continues, this time from Europe’s largest economy. 2015 saw a steady release of numbers over the all-important 50 mark. That trend is expected to continue in December with an earlier provisional reading coming in at 53.0. Any significant divergence from that could impact the EUR.
09:00 – Europe – Manufacturing PMI (Dec) – As with the prior specific German number, this is the second and final reading after a provisional release of 53.1. Given the heavy weighting of the German component, there are unlikely to be too many surprises from this number.
09:30 – UK – Manufacturing PMI (Dec) – I wonder if the world’s major industrialized nations gang up and decide to release their PMI data on the same day? No provisional readings for the UK so any divergence from the market expectation of 52.7 could impact GBP. Just to to re-iterate, as is the case with all PMI readings, over 50 is considered expansionary.
14:30 – Canada – RBC Manufacturing PMI (Dec) – Canada’s turn! The Canadian economy has been struggling of late, with no growth in GDP or Retail Sales. A falling Oil price has weighed on the economy and the last 4 readings of this number have been sub 50. There is little to suggest that this release will show any improvement. Obvious repercussions for the CAD if there is.
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