The USD was majorly reduced vs. the majors in the first trading day of the new year, relinquishing the 1.44-level against the EUR and sliding to 1.0374 against the CAD. Crude oil rebounded and passed the $80 per barrel level while the global equity bourses advanced on Monday session as traders shifted back into riskier assets. The Dow Jones, Nasdaq and S&P 500 were all higher by over 1.5% by afternoon.
By: Hillel Fuld
The economic calendar was light today, upon announcement of the December manufacturing ISM report. The data improved and exceeded expectations edging up to 55.9 and beating calls for an increase to 54.0 from 53.6 in November. The ISM prices paid component jumped to 61.5 as opposed to 55.0 in the previous month.
The week ahead will see an abundance of reports including November durable goods orders, pending home sales, factory orders, December non-manufacturing ISM, ADP private sector payrolls, weekly jobless claims and the key December jobs report. The non-farm payrolls for December are seen worsening to -20k from -11.0k from a month earlier, while the unemployment rate is expected to slightly increase to 10.1% from 10.0% from November.