Canada: Markit Manufacturing PMI improves to 54.9 (final) in November

Eren Sengezer FXStreet

"The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 54.9 in November, up from 53.9 in October, to signal the sharpest improvement in business conditions since August," the IHS Markit reported on Monday.

Key takeaways from the press release

Manufacturing production growth edged up from October's 22-month low, helped by a stronger upturn in new order books.
Despite a slowdown in demand conditions relative to earlier in the year, manufacturers reported a renewed acceleration of employment growth in November.
Manufacturers remain optimistic overall about their growth prospects for the next 12 months.
Input costs increased at the slowest rate since February, which meant that factor gate price inflation remained much softer than the survey-record highs seen during the summer.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD looks inconclusive near 0.7120

AUD/USD has been struggling for direction on Monday, coming under fresh downside pressure soon after retesting the 0.7140 area and looking to stabilise in the low 0.7100s ahead of the opening bell in Asia on Tuesday. The pair’s daily decline comes on the back of the generalised improvement in the sentiment surrounding the Greenback.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin rallies near $86K on improving markets ahead of quarterly options expiry

Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000. BTC’s price momentum rose from 47.7 to 53.6, representing a 12.5% weekly increase.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.