Economic data coming up in the European session

News

Final manufacturing PMIs to make up the headlines amid virus watch again

Good day, everyone! Hope you all had a great weekend and that you’re doing well as we look to get things going in the session ahead.

Chinese markets are back today but are facing a really rough time as the yuan falls and stocks are being battered, although officials are still trying to calm the situation for now.

That said, it’s still quite the bloodbath with the Shanghai Composite down by more than 8% as stocks plummet by the most since 2015 and the yuan down by over 1%.

However, major currencies are less affected with US futures keeping higher alongside Treasury yields as they retrace some of the moves seen on Friday last week. That said, cautious tones still prevail and it only takes a flip of the switch to see things turn around.

Looking ahead, euro area manufacturing PMI will offer something for traders in the European morning but since these are final releases, they shouldn’t matter all too much.

Instead, coronavirus fears will once again be the key highlight to start the new week.
ForexLive

0815 GMT – Spain January manufacturing PMI

0830 GMT – Switzerland January manufacturing PMI

0845 GMT – Italy January manufacturing PMI

0850 GMT – France January final manufacturing PMI

0855 GMT – Germany January final manufacturing PMI

0900 GMT – Eurozone January final manufacturing PMI

The focus will on the final readings from France, Germany and the overall Eurozone – with the German report being the more significant one. But unless we see the final readings deviate substantially from initial estimates, the releases should have minimal impact on the euro and on markets in the day ahead.

0900 GMT – SNB total sight deposits w.e. 31 January

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

0930 GMT – UK January final manufacturing PMI

The preliminary release can be found here. As this is the final release, it should do little to reaffirm what we already know i.e. post-election sentiment bounce but we’ll have to see if this is sustainable during the course of the year.

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading!

Articles You May Like

【7 years of Trade Experience】Tokyo Box Breakout Strategy: 3 simple steps & make forex trading profit
Trump says Iran or its proxies are planning a sneak attack in Iraq
My winning Forex Trading System. 100% Non Repaint-
Forex Cougar – (Market Statistics) MT4 Trading System
Moving average crossover strategy By Phone Mt4 for Forex Trading indicator strategies

Leave a Reply

Your email address will not be published. Required fields are marked *