| How will the Swiss Franc fluctuate in response to Manufacturing PMI data? |
| The SVME manufacturing PMI in Switzerland dropped to 48.8 in November 2019 from 49.4 in the previous month, coming in slightly above market expectations of 48.6. Although declines were seen in production, (-0.9 points to 49.5), new orders (-2.1 points to 47.1), purchasing volume (-1.5 points to 45) and delivery times (-0.1 points to 46.6), in the meantime, employment growth was little changed (+0.1 points to 52.2). While on the price front, purchasing costs rebounded (+1 point to 50.3), looking at market analysts’ outlook reveals that this figure is expected to be at a level of 50.8 by the end of the quarter. How do you see the impact of today’s actual data release on the currency valuation of Switzerland? |
| Could UK’s construction PMI data drag the GBP downwards? |
| The IHS Markit/CIPS UK construction PMI rose to 45.3 in November 2019 from 44.2 in October, coming in above market expectations of 44.5. While this latest reading pointed to the slowest drop in overall construction output for four months, as housing activity contracted at a much softer pace, overall new orders fell for the eight consecutive month, the longest phase of decline since 2012-13, on subdued client confidence and ongoing hesitancy to commit new projects. On top of that, purchasing activity continued to decrease, as well as employment due to cost-cutting efforts and the non-replacement of voluntary leavers. Looking at market analysts’ outlook reveals that this figure is expected to be at a level of 49.9 by the end of the quarter. How do you estimate that the British Pound will shift in direct response to the actual reading of today’s major market announcement? |
| Would Germany’s inflation rate continue to decline? |
| Germany’s consumer price inflation was confirmed at 1.1 percent year-on-year in November 2019, unchanged from the previous month and the lowest level since February 2018. As inflation remained below the ECB’s target for the seventh month in a row, as energy deflation deepened. Looking at market analysts’ outlook reveals that this figure is expected to be at a level of 1.3 percent by the end of the quarter. How do you view the possible reaction by the Eurozone’s currency to the outcome of today’s actual figures? |
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