Data releases today will mostly be dominated by the December Services PMI reports from various countries, notes Barclays Capital.

In the US, we are expecting the ISM non-manufacturing PMI to soften to a still healthy 57.5 from 59.3 (the second highest level in the index since 2005), which is unlikely to put much of a dent to the USD. We are above consensus on the US November factory orders and expect a +0.2% m/m increase (consensus: -0.5%) after a -0.7% drop last month,” Barclays projects.

“In the Eurozone, we and the market are expecting the final Services PMI and Composite PMI to remain unchanged from their flash at 51.9 and 51.7 respectively (previous: 51.1 previously for both),” Barclays adds.

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