Market update - January 6th
from The Trading Pair Hosted by Jayanjan Mukherjee
Good morning! Here’s your quick update for Monday, January 6th. China’s Caixin Services PMI rose to 52.2, signaling stronger growth. In Europe, Spanish and Italian Services PMIs improved significantly, lifting the Eurozone’s overall PMI to 51.6. German inflation ticked up to 0.4%, but Swiss retail sales missed expectations. Meanwhile, U.K. services data slipped slightly to 51.1, highlighting continued challenges. In the U.S., the Final Services PMI dropped to 56.8, below expectations, and Factory Orders fell by 0.4%. Later today, FOMC Member Cook will speak, potentially shedding light on Fed policy. For the DXY, strong European and Chinese data may weigh on the dollar, while weaker U.S. numbers could add further downside pressure. Stay tuned for more updates tomorrow!
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