Free Trial
KRW

Won Rebounds, USD/KRW Back Close to 1300

RBA

VIEW: ANZ: Diminished Hawkishness

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI European Morning Briefing

MNI (London)
     LONDON (MNI) - Friday is a busy data day, with the European manufacturing
PMI data and the US employment report set to dominate.
     The European calendar gets underway at 0715GMT, with the publication of the
Swiss retail sales numbers
     The euro area manufacturing PMI data kicks off at 0715GMT, with the release
of the Spanish final August Markit Manufacturing PMI data. The Italian numbers
will be released at 0745GMT, with French data at 0750GMT, German at 0755GMT and
the euro area manufacturing PMI at 0800GMT.
     Also due at 0800GMT is the final Italian Q2 GDP data.
     There is more Markit manufacturing PMI data expected at 0830GMT, when the
final UK August data will cross the wire.
     ECB Vice-President Vitor Constancio speaks at 43rd edition of "Intelligence
on the World, Europe and Italy" Forum, in Cernobbio, Italy, starting at 0915GMT.
     The US calendar kicks off at 1230GMT, with the bellwether US employment
report for August.
     Nonfarm payrolls are forecast to rise by 180,000 in August after
stronger-than-expected readings in the previous two months. It remains to be
seen if the impact from Amazon's attempt to hire 50,000 new workers will filter
through to the payrolls figures this month, but it casts some upside risk on the
data. The unemployment rate is expected to hold steady at 4.3%. Hourly earnings
are forecast to rise 0.2% after a 0.3% gain in the previous month. The average
workweek is expected to stay at 34.5 for another month.
     At 1345GMT, the final August US Markit Manufacturing Index will be
published.
     There is a rush of US data at 1400GMT, including the ISM Manufacturing
Index, construction spending and the Final Michigan Sentiment Index.
     Construction spending is expected to rise 0.5% in July. Housing starts fell
4.8% in the month, suggesting private residential building could continue its
string of declines.
     The ISM manufacturing index is expected to rebound modesty to a reading of
56.6 in August after a dip back to 56.3 in July. Regional conditions data have
suggested fairly strong growth.
     The Michigan Sentiment index is expected to be revised down slightly to a
reading of 97.5 in August from the 97.6 preliminary estimate, still above the
93.4 reading in July.
     At 1500GMT, the St. Louis Fed Real GDP Nowcast will be released, followed
by the NY Fed GDP Nowcast at 1515GMT.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.