Daily Briefing – Tuesday, January 2, 2018
The GBP has been rallying against the greenback for much of the past week. On December 26, it stood at 1.3374 but by this morning (January 2nd) it had gone up to 1.3519. Analysts expect the GBP to strengthen further. Let’s see how the pound kicks off trading on this first working day of the new year. On the European front, the EURUSD has also been rallying, rising from 1.1888 on December 27, to 1.2026 this morning. How will it react to today’s data?
Much like its fall against the GBP and the EUR, the USD has also been falling against the CAD. On December 29 it closed at 1.2579 and this morning it is trading at 1.2527. Investors will be monitoring the manufacturing figures today both in the US and in Canada.
In China, the Caixin Manufacturing Index rose in December, strengthening feelings that the world’s second largest economy has picked up momentum. In Australia, its AiG Performance index dropped this morning but that hasn’t stopped the Aussie from rising against the JPY. It is now trading at 88.3156. Will the AUD keep up the momentum in the new year?
Bitcoin kicked-off the new year by declining. On Monday it was trading at $13,624.56 at 5 p.m. in New York, down 4.8 percent from December 29. Ethereum on the other hand welcomed in 2018 with a bang – up to the all-time high of $870. Crude Oil welcomed in 2018 with price highs. WTI was at $60.61at 0423 GMT and Brent at $67.12. How will the unrest in Iran affect oil prices?
Equities in Hong Kong and China have led gains in today’s Asia Pacific session but stocks in Australia and Malaysia have fallen. Follow the European and US markets today.
|09:00 GMT||EUR: Markit Manufacturing PMI|
|09:30 GMT||GBP: Markit Manufacturing PMI|
|14:30 GMT||CAD: Markit Manufacturing PMI|
|14:45 GMT||USD: Markit Manufacturing PMI|
|21:30 GMT||API Weekly Crude Oil Stock|