Daily Market Report 01/09/16

USD

Asian shares slipped early this morning, after lower crude oil prices negatively impacted Wall Street, and two Chinese manufacturing surveys disappointed market participants. The market is awaiting this week’s U.S. employment figures, after Vice Chair Stanley Fischer said last week that the jobs data will be a factor in the timing of central bank interest rate hikes.

Employers are expected to have added 180,000 jobs in August, according to estimates. The ADP National Employment Report released yesterday showed U.S. private employers adding 177,000 jobs in August, slightly above the 175,000 forecast. Contracts to buy previously owned homes surged in July.

The private Caixin/Markit Manufacturing Purchasing Managers' index (PMI) showed that China's manufacturing activity slowed in August. Growth in output and new orders was down, and companies shed staff for the 34th month in a row. The index slipped to 50.0 in August, the no-change mark which separates expansion of activity from contraction on a monthly basis, from 50.6 in July.

Key Announcements

9:30 – GBP : Manufacturing PMI, 49.1 expected

15.00 – USD: ISM Manufacturing PMI, expected to fall to 52.00