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Daily Briefing – Wednesday, January 3, 2018

Europe

The EU’s Markit Manufacturing PMI rose to a record high of 60.6 in data published yesterday. The EUR rose against the USD, climbing by 0.43%. In the UK, Markit Manufacturing dropped in December, but this did not hinder the GBP which rose by 0.67% against the USD. It didn’t fare as well against the EUR however, falling by 0.25%. Traders are now waiting for the German unemployment rate figures this morning.

 

US

Yesterday, the USD continued to fall against major currencies but north of the border, the CAD rose against the USD reacting to a three month high by Markit Manufacturing. In this morning’s Asia-Pacific session, the greenback has somewhat reversed trends, rising against the CAD by 0.13%. Keep an eye today on the FOMC Minutes.

 

 

Asia/Oceania

The NZD has reacted negatively to falling dairy prices. Traders are now wondering whether an interest rate rise is on the cards in New Zealand. The Aussie has fallen this morning in the Asia Pacific session – by 0.11% against the JPY and 0.13% against its counterpart in New Zealand. How will the AUD fare today?

 

 

Commodities

The cryptocurrency Ethereum has continued its rise, reaching an all-time high yesterday at $847. The price of gold continues to rise, reaching $1311.93 yesterday in the American market. Oil has also seen rises, possibly spurred on by the anti-government protests in Iran. WTI is now trading at $60.33 and Brent at $66.50.

 

 

Shares

Asia-Pacific stocks have bene rising today with China’s CSI 300 up by 1.2%, The Taiwan Taiex by 0.85% and the Hang Seng by 0.11%. The New Zealand NZ50GR also rose by 0.32%. Keep an eye on these trends.

 

Today’s Events

09:00 GMT EUR: German Unemployment Rate
09:30 GMT GBP:  PMI Construction
15:00 GMT USD: ISM Manufacturing; ISM Prices Paid
19:00 GMT USD: FOMC Minutes
22:30 GMT AUD: AiG Performance of Services

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