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The Day Ahead: Top 3 Things to Watch

Published 01/31/2018, 04:46 PM
© Reuters.  What to watch out for in tomorrow's session
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Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow

US Initial Jobless Claims, ISM Manufacturing

A duo of top tier economic data on manufacturing and the labor market could provide fresh direction for the dollar as it continued to extend losses against its rivals on Wednesday.

Economist forecast the U.S. ISM Manufacturing Purchasing Managers Index to show a reading of 58.8 in January, slightly below the prior month reading of 59.3.

The Labor department releases its weekly count of the number of individuals who filed for unemployment insurance for the week ended Jan 27. Economist forecast initial jobless claims to rose by 5000 to 238,000.

EU Manufacturing

Economists forecast the final reading of the Eurozone manufacturing purchasing managers index to remained unchanged at 59.6 in January.

Ahead of the data, the EUR/USD pared some its earlier gains despite Eurozone inflation data reported in line with economists' forecast.

UK Housing, Manufacturing Data

UK house price data for January is expected to cool after an unexpected sharp rise in December.

Economists forecast Nationwide HPI data to show house prices rose 0.2% in January, well below the 0.6% seen in the prior month, while house prices growth on an annual basis is expected to remained unchanged at 2.5%.

The manufacturing PMI for January is expected to have eased to 56.5 from 56.3 in the previous month.

GBP/USD rose 0.16% $1.3397.

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