Daily Update - 17th December 2019
Euro Markit Manufacturing PMI and Markit PMI Composite data came out slightly low than the previous record. GBP Markit Service PMI gave the reading of 49 comparative to previous 49.5, but US Markit Manufacturing PMI shows the same record. It’s a quiet day ahead on the Eurozone economic calendar. October trade data from the Eurozone will provide direction in the early part of the day. While trade data from Germany last week impressed, forecasts are for the trade surplus to narrow. An unexpected widening would be a boost for the European majors. From the U.S, housing sector numbers, industrial production, and JOLTS job openings will also be in focus later in the day. On the geopolitical front, we’ve got Brexit back in the driving seat. The big question is whether ‘The Establishment’ will be willing to give Boris an easy ride. It would certainly send the wrong message to other member states that had previously threatened referendums.Yesterday’s Market
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