Outlook for Today's Financial data: focus on the outcome of the G20 Summit, multinational PMI data released today

SMM12, March 3: today, we focus on the outcome of the G20 summit, which is expected to produce a big market for the foreign exchange market. In addition, we should pay attention to the remarks made by Fed officials. This week, Fed officials spoke on the side of pigeons one after another. It has prompted investors to question whether the Fed is close to the end of its interest rates. In terms of economic data, pay attention to the manufacturing PMI data of European countries and the United States. Attention should be paid to the remarks made by New York Fed Chairman Williams and Federal Reserve Governor Brainard.

The release of German Markit manufacturing PMI, eurozone Markit manufacturing PMI, in the afternoon this figure is particularly important in the context of recent poor European data. In late November, eurozone PMI fell to a two-and-a-half-year low, German manufacturing PMI slowed to a nearly four-year low in November, and the market index, a measure of long-term inflation expectations in the eurozone, fell to 1.6462, the lowest since November 2017. A series of data have disappointed the market about the economic outlook for the euro, so if the data remain poor, coupled with pending Italian budget issues, could lead to a further sharp fall in the euro.

The US Markit manufacturing PMI, a leading indicator of economic conditions, will be released in the evening as companies respond quickly to market conditions. By observing the changes in such data, foreign exchange investors judge the outlook for the US economy, which in turn affects the trend of the foreign exchange market. At the same time, the release of the US ISM manufacturing PMI, in November is a leading indicator of whether the economy is healthy or not. Businesses can respond quickly to market conditions, and purchasing managers' views on the economic situation of their companies may be the most timely and relevant.

Today's important financial data are shown in the following table: