The first trading session of the year started with a very positive Chinese Caixin Manufacturing PMI in Asian session which once again is a very good news for Australia.
The tier one data was Manufacturing PMI in UK and it was a a very positive data, a deviation.
The German inflation also hit a new high since July 2013 with positive employment data as well.
The French inflation also hit highest since 2014.
Then GDT price came out in NY session with minus 3.9%, a negative surprise.
Finally the ISM Manufacturing PMI from US was also a positive number.
Sentimentally, all equity markets were green to give us a good start with risk on sentiment, however, the oil was down today to fell from $55 down to $52. The could be the effect of a strong dollar as the rally yesterday was a more sentimental hope for an output cuts to take effect this week - that is if the OPEC agreement is indeed working.
We’re almost finished the Asian session for Jan 4th as well, the Final Manufacturing PMI of Japan was very positive to signal a fast pace of expansion in December.
GBP Construction PMI
Max 54.8 (positive surprise)
Min 51.5 (negative surprise)