Yesterday was a fairly positive day on the markets as we saw some aggressive movements from the US indices as Nasdaq, S&P and Dow all closed significantly higher. The positivity carried over to the European Indices as we saw Dax and FTSE also edge higher to close the day positively.
Gold and Silver are both ranging as PMI data is pending to be released today, as investors remain in wait to see how the data will influence inflation expectations. Brent had another negative day as it tested and closed around the $65 level.
The cryptocurrencies stabalised following the earlier part of this week’s selloff as the investor’s put the brakes on the selloff, the major concern still remains on the environmental effect of mining the various coins as well as the regulatory and lack of assets backed by the coins. The lack of assets backed is the major concern for central banks forcing them to clamp down on crypto transactions.
Focus today will shift to PMI as it is set to be released throughout the day.
9:30am - German Flash Manufacturing PMI (EUR)
9:30am - German Flash Services PMI (EUR)
1:00pm - ECB President Lagarde Speaks (EUR)
3:45pm - Flash Manufacturing PMI (USD)