Analysts at Rabobank point out that today it is manufacturing PMIs in focus, as well as questions over where said manufacturing might be taking place in the future, it at all.
“Tomorrow it’s the RBA and US factory orders.”
“Wednesday it’s Aussie trade and retail sales, then global services PMIs.”
“Thursday it’s US ADP employment and the ISM services survey ahead of the Fed minutes.”
“And Friday it’s German industrial production, Canadian job, and the Big One that is a small acronym – NFP (US non-farm payrolls.) Friday is, of course, also the day when USD34bn worth of 25% tariffs on Chinese exports to the US kick in; and China responds; and the US then gets ready to retaliate with another USD200bn. Yet perhaps after the WTO news even that is no longer The Big One(?)”