MobOption

Daily market overview – 05/05/2016

Wednesday was red again, as disappointing US data dragged Wall-Streets main indices to descents of around 0.6%, while Europe's main exchanges suffered as well, with the DAX30, CAC40 and FTSE100 all loosing around 1%. The ADP employment survey was lower than expected with an addition of 156K jobs compared to an expected 196K, upgrading the tension before tomorrow's NFP report.

The USD is slightly on the fence for now, with its index steady since yesterday around 93.2$. The EUR/USD pair is still trading around the 1.15 mark, while the USD/JPY has slightly recovered from its multi-year lows around 105.5 reached on Monday, and is currently trading around 107.

Oil prices remain firm near yearly highs close to 45$, despite higher than expected crude oil supply data from yesterday. Meanwhile, with similarity to the USD, Gold prices remain around 1280$, slightly of its fresh 15 month high.

Key Market Data Today:

08:30 – GBP: ADP Nonfarm Employment change.
12:30 – USD: Initial Jobless claims.

Daily market overview – 04/05/2016

Wall-Street ad another Red day yesterday, following a grim closing in Europe after the Euro zone growth expectations were cut from 1.7% to 1.6% in 2016. The US leading indices all lost around 1%, while in Europe the DAX dropped 1.95% and the CAC40 lost 1.6%.

The Dollar had a wild day yesterday, as the EUR/USD briefly touched 1.16 for the first time in over a year, before turning the table and dropping over 100 pips below 1.15. The sentiment is still negative on the Greenback, and the market in waiting for Friday's NFP report, to perhaps get a better glimpse of what the near future holds for the Dollar.

After a long steady climb, commodity prices stumbled yesterday. Oil prices dropped 2%, falling below 44$, while gold prices backed off recent 15 month high near 1300$, and are currently trading around 1280$.

Key Market Data Today:
12:15 – USD: ADP Nonfarm Employment change.
14:00 – USD: ISD non-manufacturing PMI.