In the European session we will get some low tier economic releases and the Final Manufacturing PMIs for the Eurozone and the UK. The main highlights today will the the US ISM Manufacturing PMI and Fed's Waller in the American session.
15:00 GMT/10:00 ET - US November ISM Manufacturing PMI
The US ISM Manufacturing PMI is expected at 47.5 vs. 46.5 prior. The S&P Global Manufacturing PMI came in as expected but the details showed once again an improvement and a much better future outlook.
In fact, the manufacturing sector optimism hit a 31-month high amid improved sentiment due to reduced political uncertainty following the US Presidential Election. Moreover, expectations of lower interest rates, lower inflation, and better economic conditions contributed to positive outlooks, as well as a more business-friendly incoming administration.
Central bank speakers:
- 10:00 GMT - ECB's Lagarde (neutral - voter)
- 20:15 GMT/15:15 - Fed's Waller (neutral - voter)
- 21:30 GMT/16:30 - Fed's Williams (neutral - voter)
