IronFX Daily Commentary by Charalambos Pissouros | 02/05/2016
May 3, 2016 6:22 am
Main points for Today
Dollar index continues to tumble • DXY plummeted to its lowest levels since Aug. 2015 and remains under selling pressure. • Reasons: Fed’s and BoJ’s on hold stance, sluggish overall US economic data. • In the absence of positive data surprises the index could fall further.
Today: • France, Germany & Eurozone: Final Markit manufacturing PMIs for Apr. are exp. to confirm the prel. estimates. Reaction in EUR stay muted. • US: ISM manufacturing PMI for Apr. is exp. to decline. This could hurt USD a bit. • Speakers: ECB President Draghi speaks.
This week: • Tuesday: RBA rate decision. Economists expect the Bank to stay on hold, but market is pricing easing. China’s Caixin manufacturing PMI for Apr. is exp. to rise. • Wednesday: ADP employment for Apr. is exp. 194k vs prev. 200k. • Thursday: No major events or indicators. • Friday: US employment report for Apr. NFP is exp. 203k vs prev. 215k, while both the unemployment rate and average hourly earnings to remain unchanged. Canada’s unemployment rate for Apr. is also coming out.
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Main points for Today
Dollar index continues to tumble
• DXY plummeted to its lowest levels since Aug. 2015 and remains under selling pressure.
• Reasons: Fed’s and BoJ’s on hold stance, sluggish overall US economic data.
• In the absence of positive data surprises the index could fall further.
Today:
• France, Germany & Eurozone: Final Markit manufacturing PMIs for Apr. are exp. to confirm the prel. estimates. Reaction in EUR stay muted.
• US: ISM manufacturing PMI for Apr. is exp. to decline. This could hurt USD a bit.
• Speakers: ECB President Draghi speaks.
This week:
• Tuesday: RBA rate decision. Economists expect the Bank to stay on hold, but market is pricing easing. China’s Caixin manufacturing PMI for Apr. is exp. to rise.
• Wednesday: ADP employment for Apr. is exp. 194k vs prev. 200k.
• Thursday: No major events or indicators.
• Friday: US employment report for Apr. NFP is exp. 203k vs prev. 215k, while both the unemployment rate and average hourly earnings to remain unchanged. Canada’s unemployment rate for Apr. is also coming out.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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