How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
China's services sector edges up at the stronger pace in November
In November, surge in China's services sector activity managed to pick up to a three-month maximum, underpinned by a firm soar in new businesses, although the rate of expansion was still modest and weaker than the long-run trend, as a private poll disclosed on Tuesday.
The optimistic findings generally echo those of an official indicator of the non-manufacturing sector the previous week, which demonstrated that in November activity speeded up at a faster rate, thus backing the view that an anticipated slowdown in the broader Chinese economy would be quite gradual.
In November, the Caixin/Markit services purchasing managers' index tacked on to 51.9, gaining from October’s outcome of 51.2 and being the highest outcome since August.
An outcome above 50 shows surge, while any lower reading stands for contraction on a monthly basis.
In September, the index had declined to 21-month minimum having hit a three-month maximum in August.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.