020 7898 0500US data carries on its march of positivity. The Institute of Supply Management (ISM) manufacturing survey for November came in at 53.2, equaling its previous high this year. More optimism among manufacturers is a possible result of the election, as expectations rise of President-elect Trump working to assist the US manufacturing sector.
The survey follows on the heels of better-than-expected Gross Domestic Product (GDP) data for quarter 3, sky-high consumer confidence and increasing personal incomes. All this points to a December interest rate hike in the interim, but the USD tailed back recent gains today, maybe as a result of news from other currencies including the pound.
Today we have the key non-farm payroll figures which are expected to be positive. With everything looking rosy in the US, all eyes would then move to the December interest rate meeting from the Federal Reserve.
