Weekly Market Recap (02-05 January) ...Middle East

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Weekly Market Recap (02-05 January)
TuesdayThe Chinese Caixin Manufacturing PMI for December beat expectations:Manufacturing PMI 50.8 vs. 50.4 expected and 50.7 prior.Output and new orders both increase at quicker rates.firms maintain a cautious approach to employment.Inflationary pressures remain soft.The Canadian Manufacturing PMI for December fell further into contraction:Manufacturing PMI 45.4 vs. 47.7 prior.Lowest reading since May 2020.WednesdayThe Switzerland Manufacturing PMI for December improved slightly although it remains well in contraction territory:Manufacturing PMI 43.0 vs. 42.1 prior.Fed’s Barkin (neutral – voter) acknowledged the progress on inflation highlighting the 6-month Core PCE rate

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