Indian PMI was released earlier and it didn't make pleasant reading 5 Dec

  • Nov mftg PMI 52.3 vs 54.4 prev, biggest mm decline since March 2013
  • new orders sub-index 53.3 vs 57.7 prev
  • Nov services PMI 46.7 vs 54.5 Oct, biggest monthly drop since Nov 2008 and first time the index has gone below 50 since June 2015

More fallout from PM Modi's snap decision to scrap 500 and 1000 rupee notes, removing 86% of ccy in circulation almost overnight.