U.S. manufacturing PMI likely to remain unchanged in November

Activity in the manufacturing sector of the United States is expected to have remained unchanged during the month of November, with political upturns witnessed with the victory of President-elect Donald Trump during the 2016 US presidential elections.

The preliminary Markit PMI manufacturing index for November is due out, where it will be interesting to see if the positive signals for the manufacturing sector have continued. In the evening, the minutes from the Federal Open Market Committee (FOMC) for the November meeting are due to be released.

As expected, there were no major changes in the FOMC's statement. Most importantly, it said the case for a rate hike 'has continued to strengthen' (previously 'has strengthened') but that it had 'decided, for the time being, to wait for some further evidence of continued progress toward its objectives'.

Meanwhile, the US dollar index is trading 0.11 percent lower at 100.93, while at 7:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bearish at -96.88 (lower than the -75 benchmark for bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex