Good Morning Traders! This Tuesdsay we get UK and Euro-Area PMI.
Here is what to expect from today.
Sentiment
In a rare admission of domestic headwinds facing the country, Chinese President Xi Jinping committed to enhance economic momentum and job creation, noting that some enterprises and residents had undergone a rough 2023.
According to persons acquainted with the situation, ASML cancelled shipments of some of its machines to China at the request of US President Joe Biden's administration, weeks before export limits on high-end chipmaking equipment went into force.
Asia's manufacturing sector finished the year on a low note, as slowing economic activity in China and other developed economies hampered demand for the region's exports.
Oil prices surged after Iran dispatched a warship to the Red Sea in reaction to the US Navy's weekend drowning of three Houthi boats, escalating regional tensions as shipping continue to shun the critical waterway.
China reinstated import tariffs on coal at the start of the year, threatening Russian exporters who rely on the world's largest market for the fuel.
Docket
03:50 AM ET
French Mfg PMI
Median Forecast 42 | Prior 42 | Range 42.3/41.9
03:55 AM ET
German Mfg PMI Final
Median Forecast 43.1 | Prior 43.1 | Range 43.2/43.1
04:00 AM ET
Eurozone Mfg PMI Final
Median Forecast 44.2 | Prior 44.2 | Range 44.3/44.1
04:30 AM ET
UK Mfg PMI Final
Median Forecast 46.4 | Prior 46.4| Range 46.7/46.4
Good Luck today, Traders!
