Super Tuesday dominates headlines

Yesterday’s markets

2nd March 2016

  • EUR Spanish Manufacturing PMI: 54.1
  • EUR German Unemployment Change: -10K
  • GBP Manufacturing PMI: 50.8
  • EUR Unemployment Rate: 10.3%
  • NZD GDT Price Index: 1.4%
  • USD ISM Manufacturing PMI: 49.5
  • AUD GDP q/q: 0.6%

It was Super Tuesday yesterday, the biggest indicator of national sentiment in regards to the respective candidates of the Democratic and Republican parties. Super Tuesday is a flood of primaries squeezed into a single day and a big day in terms of the US election. Donald Trump again impressed in the US, as did Hilary Clinton, dealing a major blow to Bernie Sanders’ chances. Democratic Hilary Clinton, won the rich state of Texas, Georgia and Virginia. Trump, although did not post a clean sweep, impressed in Georgia and prevailed across the south. It was another decent showing for the New York billionaire on the biggest night of the presidential race so far.

The economic calendar was packed with Manufacturing data yesterday. UK Manufacturing PMI posted a worse than expected 50.8, remaining above the key 50 level and therefore indicating expansion in the manufacturing sector. Across the pond, the US released their ISM manufacturing PMI. US manufacturing exceeded economists’ consensus of 48.5, posting a reading of 49.5, its best this year.

Today’s markets

1st March 2016

  • EUR Spanish Unemployment Change
  • GBP Construction PMI
  • MPC Member Broadbent Speaks
  • USD ADP Non-Farm Employment Change
  • GBP MPC Member Cunliffe Speaks
  • USD Crude Oil Inventories
  • AUD Trade Balance

Two key economic indicators are due for release today, one for the UK and one for the US. Focusing on the UK’s number we have the PMI construction set for release. Meanwhile, we also get an early indication of how the all-important jobs report on Friday could look with the release of ADP Employment Report.