Mixed PMI data, metals lower
|Important news for the day
- Tue, 17th, 14:30 CET CA Consumer prices index.
PMI data
Yesterday’ PMI data showed a mixed bag. Manufacturing data from France, Germany, the UK and US have been weaker while the services sector continues to show upside momentum, similarly to recent inflation data. Headwinds might hence follow form the economies in general as manufacturing data continues to disappoint. The figures remain below the 50- level, which technically would mean contraction. Further uncertainty might come from the Trump administration starting in January next year.
Market talk
Markets mostly remain in a sideways pattern. The Dollar remains differently against most other currencies. As it is trading stronger against the Aussi it loses momentum against the Pound. The positive claimant count change from the UK might be of positive impact here. Precious metals might offer further downside momentum ahead. Gold and Silver have both printed a bearish candlestick pattern based on the weekly charts offering potential negative momentum. Also indices show a mixed picture: The S&P 500 might weaken slightly and also the German DAX is heading lower alongside the Dw Jones index. The Nasdaq on the other hand keeps pushing to higher levels.
Tendencies in the markets
- Equities mixed, USD stronger, cryptos mixed, oil sideways, Silver weak, Gold weak, JPY weak.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.