Investors focus on US ISM Data

Daily update

Yesterday's markets

• Japan’s Retail Trade & Industrial Production
• GBP Consumer Credit & Mortgage Approvals
• EUR Gross Domestic Product (GDP) & Consumer Price Index (CPI)

Yesterday explained

Later hours of yesterday evening, we saw an upbeat in the EURO and GBP across the board. This was mainly due to the mixed bag of data released from USA. Positive reports from Mortgage Approvals from UK significantly played a role in gradually increasing GPB  during the course of the day. While Euro had a positive trend since it’s major rival reports on Chicago Purchasing Manager’s Index which came out negative than expected, Which has significant impact on ISM Manufacturing Index reports which is due to be released today.  This was a major setback to the US as this data is an indicator of business trends and indicate the overall economic condition in the US.

Today's markets

• China Manufacturing PMI
• UK Manufacturing PMI
• US ISM Manufacturing PMI
• RBA Interest rate Decision

Today's focus

Manufacturing PMI data dominates the docket  for this day, as the world’s second largest economy China posts theirs first overnight, with a slight slowdown expected on the month to be seen.  UK manufacturing then falls into the spotlight as another weak figure is set to be posted as it is due to drop to 54.6 from the previous 55.4.  Finally the US completes the hat-trick of the manufacturing releases and is the only reading anticipated to show an increase to 51.8 from 51.5.