Market update -January 3rd
from The Trading Pair Hosted by Jayanjan Mukherjee
Happy Friday, January 3rd! Here’s a quick market recap. In Europe, Spanish unemployment improved but missed expectations, while German unemployment rose by 10K. Over in the U.K., mortgage approvals and lending data fell short, reflecting weakness in the housing market. In the U.S., the ISM Manufacturing PMI came in at 49.3, beating forecasts but still showing contraction. Manufacturing prices rose, and vehicle sales hit 16.8 million, exceeding expectations. Natural Gas Storage dropped by 116B, smaller than predicted, and all eyes are on FOMC Member Barkin’s speech later today. For the DXY, strong U.S. manufacturing and auto data could offer support, but global labor market concerns might keep it balanced. Stay tuned for more updates next week!
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