US: Amidst politics manufacturing to take centre stage today - Rabobank

Analysts at Rabobank point out that today in the US, the Democrats officially take control of the House where they are likely to elect Nancy Pelosi as the Speaker.

Key Quotes

“One of the most urgent tasks is to end the government shutdown.”

“The fresh set of US data includes the ISM manufacturing index expected to edge lower to 57.5 in December from 59.3 in November. While this would be still a solid pace of expansion, the underlying trend is likely to soften throughout 2019 as the impact of tax cuts on domestic demand fades and external headwinds dominated by the US-China trade conflict potentially intensify.”

“The ADP report should confirm that the labour market is still solid with private payrolls seen rising by 180k in December.”