January 3, 2017 brings far greater liquidity than the first session of the new year. But we must still wait a while until returns back full activity – on Tuesday there will be no traders and institutions from New Zealand and Japan but since Wednesday all the centres will begin work at full capacity.
Chinese PMI positively surprise
At night the markets got to know the results of the Chinese industrial PMI for December, according to government institute Caixin. After November publication of 50.90, the analysts’ consensus was at 50.70. The final result of 51.90 which is much better than expected value.
Zhensheng Zhong from CEBM Group follows commented on the results: “The strongest PMI reading since January 2013 shows that the situation develops in a really good direction. The manufacturing industry recorded a period of appreciation and most of the indices are optimistic “
EUR/USD corrects the increases that took place at night, and at this point is getting closer and closer to test intraday lows:
The most important publications Tuesday’s calendar
At 8:45 the markets got to know French consumer inflation, which in December was sequentially 0.2% mom and 0.7% yoy
Other relevant data can be seen in the screenshot below. In the morning we are interested mainly in German unemployment and UK PMI industry. In the afternoon, the most important publication will be US Manufacturing PMI by ISM:
