Analysts at Rabobank believe the U.S. ISM survey will give us an update on the state of affairs in the U.S. manufacturing sector.

• "The market is looking for a modest uptick in the survey (from 48.1 to 49) but such an outcome by no means would be evidence that the slowdown in activity is over.
• The global picture - looking at similar surveys such as from Markit - is still very mixed. In some Asian economies, such as Thailand, Korea, India, and Malaysia, we have seen some pickup in the manufacturing survey whereas in the Americas (Canada, Brazil, Mexico) activity appears to have weakened. The Markit survey for the US - which serves as some gauge - actually declined 0.2 points in December."