Today, market participants are likely to turn their attention to the US jobs data for December. Expectations are for a decent report, which could ease somewhat investors’ concerns with regards to the health of the US economy. Eurozone’s preliminary inflation prints are also likely to be closely watched, as investors try to assess whether and how the ECB may adjust its language on the Euro area economic outlook at its upcoming gatherings. Fed Chair Jerome Powell’s speech and Canada’s employment numbers could attract attention as well.
ISM Manufacturing PMI Disappoints, Spotlight Turns to NFPs
The dollar traded lower against most of the other G10 currencies yesterday, weighed by the disappointment in the ISM manufacturing index for December, which tumbled from 59.3 to 54.1, its lowest since November 2016. The New Orders sub-index plunged 11 points to 51.1, which suggests that the trade war has left its marks to the US economy as well. The greenback outperformed only against JPY, while the main winners were AUD, CAD and NZD.
Following the flash crash during the Asian morning yesterday, the rest of the day was marked by opposite reactions in the FX world. Namely, the yen slid after...
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