Guide to today’s vital data & events

Today is the first trading day of the month and this week is full of high profile event risk. Today's focus is on manufacturing data to be released across globe.

Data released so far -

• Australia - Company gross operating profit data released showed contraction of another 0.2% after last month's 0.4%. RBA also released its commodity index that is still at -20.6%. As data continue to worsen, there seems to be no respite for Australian Dollar.

• China - HSBC manufacturing PMI released showed a growth at 50.7 compared to previous 49.7. Despite positive data market to remain cautious over china's economic health.

• Japan - Vehicle sales data released showed further contraction at 14.2%. It continued to its consecutive seven months fall.

Upcoming -

• Spain - In recent times better data has been coming out of Spain and if today's manufacturing PMI to be released at 8:15 GMT confirms strength, Spanish bonds could go for further rise.

• Switzerland - Manufacturing data to be released at 8:30 GMT is widely expected to show weakness after franc revaluation. In such case franc may continue its weakness against dollar.

• France - Manufacturing PMI data to be released at 8:50 GMT. Since France is struggling with reforms and growth it is another vital data. A reading below 50 will be a continuous contraction for consecutive 10 months.

• Greece - Manufacturing PMI to be released at 9:00 GMT. Won't affect Euro much but could sour the mood for Greek bonds and stocks if the print is pretty bad.

• Euro zone - Manufacturing PMI to be released at 9:00 GMT, would be very vital to assess the overall strength of EMU. Consumer inflation and unemployment rate to be released at 10:00 GMT. Inflation data is expected to weaken but the unemployment rate would be vital to gauge underlying current.

• Germany - Manufacturing PMI to be released at 9:00 GMT. A contraction which is unexpected would be bearish for the Euro.

• UK - Manufacturing PMI to be released at 9:30 GMT. Strong print would help pound to continue its bullish bias against other pairs.

• US - lots of data to be released. Personal consumption expenditure at 13:30 GMT, followed by Markit manufacturing PMI at 14:45 GMT and ISM manufacturing PMI at 15:00 GMT. So far this week dollar started on a strong footing, good data prints would be vital to continue the pace ahead.

• Canada - Current account balance to be released at 13:30 GMT, vital to understand the impact of weak crude and weak currency. RBC manufacturing PMI would be released at 14:30 GMT.