The U.S. Dollar is coming in weaker into the new year after a December mostly characterized by growing worries about the Omicron variant, which is making markets nervous about the economic effects.
Overview
Although deadliness has gone down, the high level of infection worldwide threatens to slow down recovery in the supply chain as well as the rendering of basic services if enough people call out sick or are mandated to exercise quarantine protocols. This morning, volumes in trading continue to be light as Europe and most of Asia remain on holiday.
The final reading of the Manufacturing Purchasing Managers’ Index for the month of December will be out at 9:45 AM. In earlier releases for the Euro-zone and the U.K., spending is going strong, but managers are indeed concerned about how Q1 will be impacted by Omicron’s effectiveness in spreading. Meanwhile, China’s Evergrande will remain a point of focus this year as China unwinds its excessiveness and punishes companies that poorly planned financially as they expanded. This seems to reach more than just real estate development; thus eyes will continue to be on it.
What to Watch Today…
- Markit U.S. Manufacturing PMI 9:45 AM
- Construction Spending 10 AM
WOW, IT’S A ‘FOUR-PEAT’ | Top MXN Forecaster for Last 4 Quarters
Bloomberg ranks Monex for MXN, G10 Currencies, and NZD! Learn More
Ready to spin the currency market moves in your favor?
Discover HOW WE Can HELP You SEND or RECEIVE PAYMENTS
