Global PMIs Due Over Next 24h
AUD
The Aussie Dollar opens either a little stronger or flat against majors after immediate AUD downside risk recedes, with Trump deciding to not immediately implement tariffs on China, Mexico and Canada. It was a very quiet day locally with only MI Leading Index m/m. Asian equities finished the day at odds, Nikkei +0.8%, Shenzhen +0.2%, and Hang Seng -0.4%. The ASX 200 reversed the weekly direction, falling -0.6%. Commodities were pretty flat to finish the session with the biggest mover being Crude Oil -1.3%. Gold and Silver were both flat. Locally, this morning's Flash PMIs showed business activity in Australia’s private sector rose marginally at the start of 2025, underpinned by rising services activity while manufacturing output stabilised. The manufacturing PMI has been below the 50 boom/bust level since February 2023, with the sole exception being last January. The services PMI has been above 50 since January 2024. It finished last year at 50.8.
USD
AUDUSD starts the day stronger sitting at 0.6285 after hitting highs of 0.6299 overnight with President Trump speaking. Trump spoke virtually at the World Economic Forum, President Trump said that he would ask OPEC to lower oil prices and would demand lower interest rates. On trade, he mentioned both the EU and Canada in terms of trade deficits while other comments included that he would “obliterate” US debt rapidly and that he would meet Putin soon. Unemployment Claims were out last night, initial claims were 223,000, an increase of 6,000 from the previous week's unrevised level of 217,000. A mixed session on Wall St. saw the Dow Jones trading +.8%, the S&P 500 +.2%, and the Nasdaq -.2% late in the North American session. Tonight, Flash Manufacturing PMI and Flash Services PMI will be out to finish off the week. There will also be inflation and consumer sentiment readings from the University of Michigan.
EUR
AUDEUR starts the end of the week stronger at 0.6036. It was a quiet night for the Euro with only ECB President Lagarde speaking at the World Economic Forum. European equities were slow moving with the CAC and DAX +0.1%. Tonight will be Eurozone’s main event for the week with the Flash PMIs. Much like the other major global economies, the manufacturing sector is expected to remain in contraction, while further expansion is forecasted for the services sector.
GBP
AUDGBP opens flat at 0.5088 after a quiet session overnight. CBI Industrial Order Expectations came out last night, missing expectations showing sentiment across the manufacturing sector fell at the fastest pace in over two years in January, according to the Confederation of British Industry’s. The FTSE finished in the green +0.2%. Tonight will see their Flash Manufacturing and Services PMI out.
NZD
AUDNZD opens flat at 1.1068 after Visitor Arrivals m/m came out at 1.0% yesterday. Today is pretty quiet with only Credit Card Spending y/y out at 1pm.