The US data yesterday came in very mixed as the ADP data came in a lot lower than expected, this should give us a bit of an indication with regards to NFP for Friday that we might very well get a slump in the unemployment data, Services PMI, on the other hand, came in significantly higher than expected showing that Services production is on the rise.
It was a bit of a mixed day on the markets yesterday as the Nasdaq moved up well on the back of the positive Services PMI figures that were released, however, the Dow declined and the ADP figures came in a lot lower than expected. The European indices did well as the FTSE continued pushing higher before the BOE Monetary Policy Report due out at noon today, the Dax also had a substantial move to the upside as it edges closer to its all-time highs.
Gold and Silver had a mixed day as there were volatile moves to the up and downside as the mixed data came out both bounced around within their respective ranges in the buildup to NFP. Brent Crude declined substantially yesterday off the back of the rise in Crude Oil Inventories where supply held came in 6million barrels more than expected.
The crypto market had a good day as they recovered as both Ethereum and Bitcoin fight back to get back to their weekly opens, Ethereum closed the day out above $2700 as it’s leading the pack of the major coins.
The Pound will be in focus today as the BOE is set to announce their Monetary Policy Report. As the European markets opened up, the Pound, Australian and New Zealand Dollar are the strongest currencies, with The US Dollar and Japanese Yen currently the weakest currencies
1:00pm - Asset Purcase Facilitiy (GBP)
- BOE Monetary Policy Report (GBP)
- MPC Asset Purchase Facility Votes (GBP)
- Monetary Policy Summary (GBP)