Reply To: Traders Market Weekly: Market Combustion, Short Squeeze Meets Fed Pivot


Today produced a series of weaker-than-expected flash manufacturing PMIs for December, which stirred speculation about the ECB not being able to retain a hawkish line; nonetheless, several ECB officials followed ECB President Lagarde yesterday in saying that there was no discussion of rate cuts.

Preliminary December HCOB Manufacturing PMI 44.2 (expected 44.6; last 44.2);
Preliminary December HCOB Services PMI 48.1 (expected 49.0; last 48.7);
October Trade Balance EUR11.1 billion (last EUR9.8 billion);
Q3 Labor Cost Index 5.3% yr/yr (last 4.50%)