Growth concerns resurface as PMIs.............>

FOREX: Growth concerns resurface as PMIs disappoint

- In the first real data releases of the week, Eurozone and UK prelim PMI

numbers were a mixed bag. UK numbers were a real sore point, with the composite

PMI release for November the poorest since July 2016, the month after the EU

referendum. These numbers were consistent with quarterly growth of -0.2%,

denting the Conservatives' ability to boast of their economic record ahead of

the December election. This has kept GBP under pressure for much of the morning,

prompting GBP to trade lower against all others in G10.

- Eurozone PMIs fared slightly more positively, but continue to show a yawning

gap between services and manufacturing (although French manufacturing was a rare

greenshoot). Antipodean FX are at the top of the table, but recent ranges are

being largely respected. The greenback is broadly flat and JPY is trading firmer

despite positive equities.

- Canadian retail sales, US PMI data and the final November Uni. of Michigan

data are the highlights Friday. Speeches are also scheduled from ECB's Weidmann

and de Cos.