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The Data Starts Now

The Data Starts Now

Good morning. Yesterday was a quieter day on the markets as we look to things heating up on the data front across the globe.

Today we see the UK Services PMI which is expected to rise slightly as the UK economy continues to grow nicely, albeit with the help of falling oil prices. As the services industry is responsible for more than two thirds of GB output, these are very important figures.

In the Eurozone, whilst we wait for the next ECB meeting, the next Greek fall-out, and the arrival of Quantitative Easing, results are starting to pick up with the preliminary report for Eurozone Services PMI showing a rise for the third consecutive month. We have already had strong retail sales from Germany, Portugal and France so expect this to be shown in the Eurozone retail figure which should increase for a fourth consecutive month.

In the US, we are looking ahead to the Non Farm Payrolls data and any hints that data  can bring over the next couple of days. There is ADP employment data  and non-manufacturing ISM data out today and Fed members Evans, Fisher and George are all talking so the markets will be looking for any hints of a date for a rate hike.

And finally to Australia, where despite the RBA keeping rates on hold, the worries for the state of the economy are growing. Q4 showed underwhelming growth, a drop in business investment and a fall in commodity prices that have yet to be fully taken into account.

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