US-China trade and global PMIs amongst market movers today – Danske Bank

According to Danske Bank analysts, markets will continue to watch US-China trade talks closely and any signals on the phase-one deal.
Key Quotes
“Otherwise the euro area Flash PMIs for December will take centre stage today. The manufacturing PMI rose for the second month in a row in November and we look for a further increase in December as more signs of a global recovery are emerging.”
“The US will also release preliminary PMI manufacturing and in contrast to ISM manufacturing, PMI has seen a lift in recent months. The regional Empire index will add a further piece to the business cycle puzzle.”
“Following the landslide Conservative win, PM Boris Johnson is finalising his cabinet reshuffle and will appoint top ministers today, before outlining his government programme in the Queen's Speech on Thursday. After the GBP rally last week, further Sterling appreciation from here will likely require an improvement in the UK macro outlook as well. UK flash PMIs for December released today will give some clues whether the economy can shrug off its recent lethargy.”
“Rest of the week focus turns to Riksbanken, which is expected to hike rates by 25bp and the Norges Bank meeting, where we look for a message of an extended period of unchanged rates. Both meetings take place on Thursday. Apart from PMIs today there are no big data releases on the global front this week.”
Author

Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

















