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Euro, sterling in retreat mode to start the new yearWhat will major central banks be up to in January?ICYMI: China has adjusted its yuan basket weightings for this yearEurozone November M3 money supply +3.8% vs +3.5% y/y expectedEurozone December final manufacturing PMI 45.1 vs 45.2 prelimUK December final manufacturing PMI 47.0 vs 47.3 prelimUK December Nationwide house prices +0.7% vs +0.1% m/m expectedUS MBA mortgage applications w.e. 27 December -12.6% vs -0.7% priorMarkets:
Elsewhere, gold is off to a decently hot start as well as it climbs to a two-week high of $2,644 while silver is trading back up above $29 after holding at the double bottom from the December lows around $28.80. Could this be the year where silver finally outperforms gold on the back of more industrial demand as well? We'll see.
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