Daily Update
EUR market manufacturing PMI came positive but couldn’t make EUR stronger. The dollar recovered from a two-week low against a basket of six major currencies on Monday, though trade was thin due to many markets being closed for the new year holiday. The greenback soared to 14-year highs in December, boosted by market expectations that the U.S. Fed will hike rates as many as three times this year, and that president-elect Donald Trump will stoke growth and inflation with a programme of fiscal expansion. Financial markets in New Zealand and Japan will remain closed for holidays. In the euro zone, Germany is to release preliminary inflation data and a report on the change in the number of people unemployed. First up will be Unemployment rate which shows , in a percent basis, the amount of unemployed people in Germany, using seasonally adjusted data. This will be followed by Consumer Price index which measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends. By midafternoon UK will release Markit Manufacturing PMI captures business conditions in the manufacturing sector. The day will end with ISM Prices Paid & ISM Manufacturing PMI reports from USA, which shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries.Yesterdays Market
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