Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
orders at 0700GMT, followed by the UK's construction PMI at 0930GMT and the US nonfarm payroll figures at 1330GMT.
German factory orders seen rising
German industrial orders are forecast to increase by a further 1.2% in October following September's increase by 0.5%. However, September orders were still 2.6% lower than before the crisis. September's increase was led by an uptick in domestic orders, while foreign orders declined slightly. Survey data suggests an uptick in new business. The manufacturing PMI saw a continued recovery of new orders, although at a slower pace, with rising export orders helping support new business in November. Moreover, the Ifo business climate survey noted an increase in industrial orders in November.
UK construction PMI forecast to decrease
The UK construction PMI is expected to ease to 52 in November, down from 53.1 recorded in October. The indicator has registered above the 50-mark since June, however, the rate of expansion has slowed in recent months. Last month's survey noted that construction firms remained optimistic regarding the prospects in the coming 12 months.
US payrolls growth expected to slow further
The U.S. economy likely added 500,000 jobs in November, according to Bloomberg, a sign that payrolls growth is continuing to slow from the outsized gains of the springtime and summer. Surging Covid-19 infections across the country and renewed shutdowns of bars and restaurants in late October and early November should put downward pressure on service-sector job growth.
The main events to look out for on Friday include speeches by BOE's Michael Saunders and Silvana Tenreyro, Fed's John Williams, Miki Bowman and Neel Kashkari as well as Chicago Fed's Charles Evans.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.