London Session Recap – December 16, 2013

  • French manufacturing and services PMI fall short of expectations
  • German manufacturing PMI stronger than expected, services PMI weaker
  • U.S. Empire State manufacturing index to improve from -2.2 to 4.9
  • ECB President Draghi set to testify

Despite mixed euro zone PMI results, EUR/USD managed to edge higher and make another test of the 1.3800 handle. French manufacturing and services PMIs both fell short of expectations while Germany’s manufacturing PMI was able to print better than expected results, as it climbed from 52.7 to 54.2. Overall, euro zone’s manufacturing PMI improved from 51.6 to 52.7 while the services PMI slid from 51.2 to 51.0.

In today’s U.S. session, we’ll see data on Canada’s foreign securities purchases, as well as the U.S. Empire State manufacturing index, which is slated to show an improvement. Also due from the U.S. are revised labor costs and non-farm productivity figures. Another market event that might spark volatility is ECB President Draghi’s speech at 3:00 pm GMT.

See also:

Asian Session Recap

U.S. Session Recap

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