Today’s trading session is all about the most up-to-date health check on economic activity from across the globe. Flash PMIs are due for release from the UK, eurozone, and US.
These reports will be the first real insight into how 2023 has begun. Coming into this year, many investors would have been positioned for recession. Following all the media coverage around key themes like inflation and energy prices it would have been hard not to be negative coming into 2023. However, stock markets have defied any bearish predictions. Markets have risen and have been resilient to any of the downbeat data.
Today’s PMIs will likely produce some volatility across all asset classes as participants weigh up what the rest of the year will hold. The greenback will also be in focus as it continues to attempt to find its feet in what’s been a challenging first few weeks of 2023.
Written by Viv Savani. 8:15am, January 24th 2023
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