Main Points for Today • Swiss voters said “No” to Gold • The gold referendum was overwhelmingly rejected by 77% of voters • The precious metal fell as much as 3.3% an hour after the polls closed, to reach its lowest level since early November • Now that the Swiss vote is out of the way gold could weaken further • Overnight, China’s official manufacturing PMI declined in November suggesting that the economy is still losing momentum • Today is a PMI day: • Final manufacturing PMIs for November: For Eurozone, Germany and France • UK: manufacturing PMI for November • Canada: RBC Manufacturing PMI for November • US: Final Markit manufacturing PMI and the ISM manufacturing index both for November • This week: • Tuesday: The Reserve Bank of Australia is expected to keep rates unchanged • Wednesday: The US ADP employment report for November, Bank of Canada meeting • Thursday ECB and BoE hold their policy meetings • Friday: The US non-farm payrolls for November, Canada’s unemployment rate for November
Posted on: Mon, 01 Dec 2014 08:04:50 +0000
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