What are the main events for today?

In the European session we will get some low tier economic releases and the Final Manufacturing PMIs for the Eurozone and the UK. The main highlights today will the the US ISM Manufacturing PMI and Fed’s Waller in the American session.

15:00 GMT/10:00 ET – US November ISM Manufacturing PMI

The US ISM
Manufacturing PMI is expected at 47.5 vs. 46.5 prior. The S&P Global Manufacturing PMI came in as expected but the details showed once again
an improvement and a much better future outlook.

In fact, the manufacturing
sector optimism hit a 31-month high amid improved sentiment due to reduced
political uncertainty following the US Presidential Election. Moreover, expectations
of lower interest rates, lower inflation, and better economic conditions
contributed to positive outlooks, as well as a more business-friendly incoming
administration.

Central bank speakers:

• 10:00 GMT – ECB’s Lagarde (neutral – voter)
• 20:15 GMT/15:15 – Fed’s Waller (neutral – voter)
• 21:30 GMT/16:30 – Fed’s Williams (neutral – voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.