What were the Key data events from overnight? - ANZ
Analysts at ANZ explained the key data events and results from overnight.
"US ISM non-manufacturing index moderated from a 12-year high.
The headline dipped to 57.4, still a touch above the 6-month average of 57.3.
The moderation was broad based with activity, new orders, and employment all lower. Despite that, it still remains at healthy levels and the Atlanta Fed GDPNow estimate for Q4 sits at 3.2%.
The US October trade balance came in at $48.7 bn. There was a surge in imports, propelling the deficit wider. Consumer goods imports increased almost $800m, including a $303m gain in cell phones and other household goods, as well as more inbound shipments of furniture, appliances, toys and clothing.
In the Euro Area November services PMI disappointed, falling to 53.8. That was in contrast to the manufacturing and construction PMIs that showed increases. Based on readings earlier this year, the data suggests GDP growth is running around 0.3/0.4% q/q."