Aside from focus on UK politics and the potential outcomes for next week’s UK election, many participants will have a close eye on various sets of economic data. 2019 has been an interesting year for markets, one summarised by intense fear about the global outlook at the start of the year followed by a boost in sentiment in the second half. This week hosts some key economic data points and ones which will help investors determine just how strong the global economy is heading into 2020.
First and foremost, US non-farm payrolls will be the main focus on the data front from an investor perspective. November’s set of figures should see an uptick in seasonal hiring as well as an alleviation of downward pressure due to a General Motors strike earlier in the year.
December PMIs will be next on the list. China’s figures over the weekend saw the nation’s manufacturing sector push back into expansion territory. Markets will be very keen to observe how the likes of Germany, the US and UK fare up. Today sees manufacturing numbers with services data to follow later in the week.
In addition, we’ll see an interest rate decision from the Bank of Canada (no change expected) as well as ongoing headlines concerning trade relations between the US and China. It appears the widely touted ‘Phase 1’ deal was not as imminent as many US politicians had boasted.
Written by Viv Savani. 8:55am, December 2nd 2019
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8:30am, October 29th 2019
Quiet day ahead, all eyes on Parliament once again…