The UK PMI manufacturing index was revised slightly to 46.5 from the flash reading of 46.2. The latest Bank of England survey recorded some moderation in inflation pressures, but employment and investment expectations were revised down. Domestic influences had little overall impact with Sterling markets focussing on global developments.
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The final reading for the Euro-Zone manufacturing index was revised down to 47.1 from the flash reading of 47.3 even though the Italian and Spanish data was slightly above consensus forecasts. There was little impact from the data with markets monitoring energy-price trends closely. The Euro held a firm tone and posted further gains after the US open with a move to test resistance as the dollar was subjected to renewed selling
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The US PMI manufacturing index was revised marginally higher to 47.7 from the flash reading of 47.6. The ISM manufacturing index edged lower into contraction territory at 49.0 for November from 50.2 the previous month which was weaker than forecasts of 49.8 and the weakest reading since May 2020. There was a sharper retreat in new orders and a small increase in production. There was also a reported dip in employment for the month while prices fell at a faster rate with the prices index also registering the lowest reading since May 2020.
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13:30 US Nonfarm Payrolls (Nov) Forecast 200k Previous 261k