Italian HCOB Construction PMI (Dec) 47.9 vs. Exp. 48.9 (Prev. 48.2)

Newsquawk Staff · Newswires · 7 Jan 2026, 08:50 UTC

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The Italian HCOB Construction PMI for December came in at 47.9, missing expectations of 48.9 and falling slightly from the previous month’s 48.2. This miss indicates ongoing contraction in the construction sector, which could signal broader economic weakness and may impact ECB policy considerations moving forward.

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US Market Open, 9 Nov, 11:25 UTC · what it led with

US President Trump said it is highly unlikely the US will need to resume military action against Iran if negotiations progress, while Secretary of State Rubio said talks have been unproductive.
DXY is softer and holds around 101.85; NZD outperforms after the region’s national election result.

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Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.
EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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