Daily Market Report 01/06/16

USD

CB Consumer Confidence came out 92.6 against an expected figure of 96.1 which seems to highlight households have a less positive than expected outlook on the US economy. However, US consumer spending jumped by 1% in April, the largest month-on-month gain since August 2009. This is especially significant given that consumer spending accounts for two thirds of the US economy.
 
 

EUR

Germany, Europe’s largest economy, released its monthly unemployment data.  Figures showed that unemployment declined more than expected, pushing the jobless figure down to the lowest level since the reunification of Germany.  The number of people unemployed fell by a seasonally adjusted 11,000 to a figure of 2.695 million in May. This release comes only a few days before the ECB convene in Vienna to set monetary policy. Furthermore, CPI flash estimate and Core CPI flash estimate both came out as forecast at minus 0.1% and 0.8% respectively. Lastly, the M3 Money Supply year on year, this being the total quantity of domestic currency in circulation and deposited in banks, came out at 4.6% against an expected 5.0%.

Lastly, the M3 Money Supply year on year, this being the total quantity of domestic currency in circulation and deposited in banks, came out at 4.6% against an expected 5.0%.

 

Key Announcements

09:30 - GBP: Manufacturing PMI expected to increase to 49.6

15:00 – USD: ISM Manufacturing PMI expected to decrease at 50.5