Breakfast Bites - PMIs in focus

Dovish FOMC Minutes makes way for Jackson Hole

Author

Ayesha Tariq
August 22, 2024

Rise and shine everyone.

Asian markets are overall positive but light on positioning ahead of tomorrow’s Jackson Hole event. Japan’s BoJ Ueda will not be attending Jackson Hole this year but will be speaking early morning in Tokyo with the Lower House of Japan’s Parliament on the topic of rate hikes.

The focus today will be PMI readings from across the Globe. Overall, services PMI continues to remain strong, while manufacturing is weaker. We’ve already got a few numbers from Asia that continue to show manufacturing weakness, while European PMIs came in significantly weaker and largely missed expectations. The UK and India continue to lead with great numbers.

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