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1 Feb 2016
The week ahead starts with China - Westpac
FXStreet (Guatemala) - Analysts at Westpac noted the key events and we start with China.
Key Quotes:
The official China manufacturing PMI will be released at 12pm Syd/9am local. This is expected to tick down to 49.6 from 49.7. We see the smaller Caixin/Markit PMI survey at 12:45pm Syd/9:45am local. The latter has been running below the official for some time now, and is also expected to edge lower, though to 48.1. Construction, heavy industry and external demand all continue to weigh on the manufacturing sector. PMIs for Asia and the final figures for Europe are also out.
US Dec PCE deflator – the Fed’s preferred measure of inflation – should rise to 1.4%, the highest since late 2014. Personal spending and personal income are released at the same time. Consensus for Jan ISM manufacturing is a rise to 48.5 though this would still see it contracting for the fourth month. In Dec we saw a sharp weakening in the employment subindex. The strong US dollar should continue to weigh. Fed vice chair Fischer speaks on the economy and policy. "
Key Quotes:
The official China manufacturing PMI will be released at 12pm Syd/9am local. This is expected to tick down to 49.6 from 49.7. We see the smaller Caixin/Markit PMI survey at 12:45pm Syd/9:45am local. The latter has been running below the official for some time now, and is also expected to edge lower, though to 48.1. Construction, heavy industry and external demand all continue to weigh on the manufacturing sector. PMIs for Asia and the final figures for Europe are also out.
US Dec PCE deflator – the Fed’s preferred measure of inflation – should rise to 1.4%, the highest since late 2014. Personal spending and personal income are released at the same time. Consensus for Jan ISM manufacturing is a rise to 48.5 though this would still see it contracting for the fourth month. In Dec we saw a sharp weakening in the employment subindex. The strong US dollar should continue to weigh. Fed vice chair Fischer speaks on the economy and policy. "