Expected US data

Today, we have important data from the US with October manufacturing production. Recently, we have seen positive signals from Markit PMI Manufacturing and ISM Manufacturing and it will be interesting to see if this follows through into today’s data.

Yesterday, US retail sales came in stronger than expected and as we stand, there is a high chance (approx. 80%) of a US rate hike in December. Since the election result last week, the markets have bought into the Trump trade which is for an expectation of fiscal spending and higher inflation and this is supportive of a stronger USD.

 

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