Manufacturing data eyed

October 1, 2020

A stack of manufacturing data is scheduled for publication today which could stir markets.

The EURUSD opened the day at $1.17418 and edged up to a high of $1.17543 early. It fell away from those highs shortly afterwards, eventually hitting a low of $1.16836 mid-session. The euro bounced off those lows, rallying as high as $1.17510 before giving up some of those gains late in the day. It is currently trading at $1.17227. Unlike the euro, the GBPUSD surged overnight, ending the session above $1.29. The pair began the day at $1.28575 and dropped to lows of $1.28039 mid-session. Rallying off those lows, the pound pushed its way to a high of $1.29420 late in the day. It has come away from those highs and is now trading at $1.29155.

The Dow looked in trouble early after opening at 27,486.32. The index fell to lows of 27,162.11 soon after the completion of the first Presidential debate mid-session. Those lows were short-lived however, with the Dow rallying to a late high of 28,028.17. It is now trading at 27,863.30. The Dax endured a choppier session overnight when it opened at 12,849.21. The German index lifted to a high of 12,894.97 early before tumbling to a low of 12,681.18 mid-session. It then rallied off those lows, going as high as 12,870.27 late in the day. The Dax was not finished however, giving up those gains, falling as low as 12,695.35 before closing at 12,743.13. It has opened Thursday higher and is now trading at 12,795.00.

The day ahead sees a host of manufacturing data being released around the world, with the ISM Manufacturing PMI figure from the US the most significant. The PMI is tipped to remain steady at 56.0, in a sign that the manufacturing sector is continuing to grow in the US.

Other data published today includes:

Australia – Commodity Prices

Canada – Manufacturing PMI

UK – Final Manufacturing PMI, MPC Member Andy Haldane speaks

Europe – European, German and French Final Manufacturing PMIs, Spanish, Italian and Swiss Manufacturing PMIs, European PPI and Unemployment Rate, Italian Monthly Unemployment Rate, Swiss CPI

US – Unemployment Claims, Personal Income & Spending, Core PCE Price Index, Final Manufacturing PMI, Construction Spending, ISM Manufacturing Prices, Wards Total Vehicle Sales, Natral Gas Storage, FOMC Members John Williams and Michelle Bowman speak

 

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