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UK November final manufacturing PMI 58.1 vs 58.2 prelim

Posted: 01 Dec 2021 01:30 AM PST

Latest data released by Markit - 1 December 2021 The preliminary report can be found . The final reading reaffirms decent output growth last month but severely stretched supply chains have weighed strongly on production schedules and drove up input prices by the most in the 30-year survey history.

Eurozone November final manufacturing PMI 58.4 vs 58.6 prelim

Posted: 01 Dec 2021 01:00 AM PST

Latest data released by Markit - 1 December 2021 here Overall, output showed some stabilisation after the drop since the summer peak but the persistent problems posed by supply bottlenecks and rising cost pressures are going to keep pressuring the outlook towards the year-end. Markit notes that:

Germany November final manufacturing PMI 57.4 vs 57.6 prelim

Posted: 01 Dec 2021 12:55 AM PST

Latest data released by Markit/BME - 1 December 2021 here Markit notes that:

France November final manufacturing PMI 55.9 vs 54.6 prelim

Posted: 01 Dec 2021 12:50 AM PST

Latest data released by Markit - 1 December 2021 The preliminary report can be found . That's a decent revision higher as we see some stabilisation to the recent slowdown in French manufacturing activity - first increase in six months. Of note, output, new orders and employment all showed improvements in November relative to October. However,

Italy November manufacturing PMI 62.8 vs 61.1 expected

Posted: 01 Dec 2021 12:45 AM PST

Latest data released by Markit - 1 December 2021 However, supply-side issues continue to be persistent with widespread complaints on shortages and logistical problems identified alongside surging cost pressures.

Switzerland November manufacturing PMI 62.5 vs 64.4 expected

Posted: 01 Dec 2021 12:30 AM PST

Latest data released by Procure - 1 December 2021

Spain November manufacturing PMI 57.1 vs 57.9 expected

Posted: 01 Dec 2021 12:15 AM PST

Latest data released by Markit - 1 December 2021 "The well-known supply-side issues in the global economy continued to curtail growth of the Spanish manufacturing sector during November, with severe constraints in the delivery of inputs leaving firms struggling to expand production in line with another month of robust new order gains."Unsurprisingly, stock shortages and transportation difficulties continued to drive price pressures,

European equities kick start December with a more positive footing

Posted: 01 Dec 2021 12:06 AM PST

A modest climb after the light losses yesterday The market mood is keeping more positive overall as omicron fears are cast aside for the time being. US futures are also keeping more positive, with S&P 500 futures up 0.9%, Nasdaq futures up 1.4%, and Dow futures up 0.5% on the day.

Switzerland November CPI +1.5% vs +1.4% y/y expected

Posted: 30 Nov 2021 11:30 PM PST

Latest data released by the Federal Statistics Office - 1 December 2021 A slight bump in Swiss inflation pressures but with the core reading still largely subdued, it isn't going to get the SNB off their seats any time soon.

Eurostoxx futures +0.9% in early European trading

Posted: 30 Nov 2021 11:12 PM PST

A more positive spin going into the December open This fits with the more positive mood in US futures as well, with S&P 500 futures up 0.9%, Nasdaq futures up 1.4%, and Dow futures up 0.5% on the day so far.

UK November Nationwide house prices +0.9% vs +0.5% m/m expected

Posted: 30 Nov 2021 11:03 PM PST

Latest data released by UK Nationwide Building Society - 1 December 2021

German state reports 4 fully vaccinated persons have been infected with the omicron variant

Posted: 30 Nov 2021 11:03 PM PST

The health office of the German state of Baden-Wuerttemberg reports Three of the infected persons are said to have returned from a business trip to South Africa on 26-27 November respectively, with the fourth person a family member of one of the returnees. The statement reads:

Germany October retail sales -0.3% vs +1.0% m/m expected

Posted: 30 Nov 2021 11:00 PM PST

Latest data released by Destatis - 1 December 2021 here

Japan reportedly looking to halt all incoming international flights for one month

Posted: 30 Nov 2021 10:57 PM PST

This comes after a second case of the omicron variant has been confirmed Anyway, this appears to be a precautionary move until there is more clarity surrounding the omicron variant in general with regards to its lethality, contagiousness and more importantly how effective the current vaccines are against the strain.

Risk keeps in a positive spot ahead of European trading

Posted: 30 Nov 2021 10:32 PM PST

Omicron fears cast aside for the time being The big shift in the market mood came from Powell's remarks yesterday, as he brushed aside risks of the new COVID-19 variant and kept the focus on monetary policy.

Trade ideas thread - European session 1 December 2021

Posted: 30 Nov 2021 10:16 PM PST

Daily thread to exchange ideas and to share your thoughts Fed chair Powell's remarks yesterday were arguably the most important development so far this week as he pushed to retire the 'transitory' inflation narrative and advocated a quicker timing for tapering, paving the way for quicker rate hikes potentially.

HK scientist says existing jabs will not be as effective against omicron variant

Posted: 30 Nov 2021 09:47 PM PST

One of Hong Kong's leading microbiologist warns of the risk the omicron variant poses to the global community HKU's Dr. Kelvin To was part of a team that was revealed to have successfully isolated the omicron variant on Tuesday night and he said that:

Economic data coming up in the European session

Posted: 30 Nov 2021 09:22 PM PST

A couple of light releases to move things along In the lead up to that, markets were phasing out Fed rate hikes for the middle of the year amid omicron fears but Powell's remarks are warranting a rethink.

ICYMI - US FDA panel support Merck COVID-19 pill

Posted: 30 Nov 2021 08:52 PM PST

A US Food and Drug Administration panel narrowly voted in favour of emergency use authorization of an antiviral pill from Merck and Ridgeback Biotherapeutics. The FDA isn't obligated to follow the recommendations of its advisers but it usually does.

OPEC+ meeting this week - watching for the response to the US oil reserve release

Posted: 30 Nov 2021 08:29 PM PST

In the wake of the SPR release, from the US and some Asian countries, there was chatter of an angry OPEC+ cutting output in retaliation.  If they do they'll cop a lot of blame for fuelling (sorry for the pun) even higher inflation that'll potentially stifle the global economic recovery. On the other hand, the group

ForexLive Asia FX news wrap: 'Risk' rises ... retraces

Posted: 30 Nov 2021 07:56 PM PST

Forex news for Asia trading on Wednesday 1 December 2021 Various of the risk markets rallied during the Asia session. The Australian and New Zealand dollars have been outperforming, as I post both have managed to retrace their 'Powell' falls during US trade (or the details on, and links to, Powell's pivotal testimony). US equity index futures are up on the (Globex)

Former Japanese Prime Minister Abe says Japan and the US should defend Taiwan

Posted: 30 Nov 2021 06:45 PM PST

ArticleBody Abe said that Japan and the US could not stand by if China attacked Taiwan. And that China needs to understand this. Abe said an armed Chinese invasion of Taiwan would be a grave danger to Japan.

Goldman Sachs says the oil price plunge has "far overshot" the likely variant impact

Posted: 30 Nov 2021 06:11 PM PST

Goldman Sachs says the move lower in oil has been "exacerbated by capitulation flows and negative gamma effects" On the demand outlook GS say: And:

China Caixin /Markit Manufacturing PMI for November 49.9 (expected 50.5)

Posted: 30 Nov 2021 05:45 PM PST

The China Caixin /Markit Manufacturing PMI is the privately surveyed PMI. For November , comes in at  Commentary from the report, summarised:  

China has reported 113 new coronavirus cases

Posted: 30 Nov 2021 05:08 PM PST

Uh-oh. This is a big jump from the previous day's report of 39. And the largest number increase since November 13. China is is still aggressively pursuing a 'zero' policy so this jump in cases is likely to see a rapid introduction of counter-measures. 
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