Good Morning Traders! We kick off the new week with PMI readings from the Euro-Area.
Here is what to expect.
Sentiment
According to experts, China's top leaders will fall short of providing a big-bang stimulus for the economy this week, disappointing financial markets hoping for decisive measures to reverse the decline. As part of Beijing's most recent efforts to revitalise the ailing economy, China is encouraging private companies to invest in crucial sectors such as transportation and advanced manufacturing.
Asset managers increased their wagers against the US currency to an all-time high on the theory that declining US inflation will expedite the Federal Reserve's 16-month policy tightening cycle.
According to data from the search engine Adzuna, job openings in the UK increased for a fifth month, raising pay and indicating a tight labour market that's likely to fuel inflation.
Despite the mounting likelihood of a change in monetary policy at home this year, Japanese individual investors, who dominate spot trading in Tokyo's foreign exchange market, have boosted their wagers on volatile currencies.
Oil dipped after four consecutive weekly increases as traders assessed the likelihood of another Federal Reserve rate hike against indications of a tighter market.
Docket
03:15 AM ET
French Mfg PMI Flash
Median Forecast 46 | Prior 46 | Range 47.1/45.0
03:30 AM ET
German Composite PMI Flash
Median Forecast 49.8 | Prior 50.6 | Range 50.8/49.0
German Mfg PMI Flash
Median Forecast 41 | Prior 40.6 | Range 42.0/39.5
German Services PMI Flash
Median Forecast 53.1| Prior 54.1| Range 53.8/52.5
04:00 AM ET
Eurozone Mfg PMI Flash
Median Forecast 43.5| Prior 43.4| Range 44.1/42.0
04:30 AM ET
UK Composite PMI Flash
Median Forecast 52.3 | Prior 52.8 | Range 53.5/51.6
UK Mfg PMI Flash
Median Forecast 46.0| Prior 46.5| Range 47.5/45.5
UK Services PMI Flash
Median Forecast 53.0| Prior 53.7| Range 54.3/51.5
Good Luck Today Traders!
