As markets return to full liquidity, with the US and Canada returning from the Presidents Day national holiday, we should see an increase in price action after a subdued Monday trading session. The highlight today will be the latest round of global flash PMIs. The purchasing manager indices reflect general business activity and are representative of the current month (February), and are therefore deemed more important than older data sets.
Reports will be released from across the eurozone, the UK, and US. Investors will be monitoring these releases closely as they provide an up-to-date picture of how businesses are handling higher interest rates and inflation, and the impact they are having on demand.
As Tuesday gets underway across Europe, the greenback is a touch firmer from Monday. The focus this week will remain on the US dollar and whether it can begin to build momentum after a string of very impressive data points.
Written by Viv Savani. 8:23am, February 21st 2023
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