The US indices consolidated yesterday pending NFP data on Friday, with ADP figures coming out this afternoon we could get an indication of where the market might be heading for the close of the week.
The Dax outperformed all indices as it reached new all time highs breaking 15 000 for the first time as it closed out the day for a third consecutive all time high.
As bond yields continued to surge its reaping havoc on Gold as the precious metal closed out the day $1684, down from its daily open of $1712. The selloff in gold followed suit on Silver as silver closed out the day on $24, down from its open of $24.67. Brent is consolidating between $64 and $65 pending tomorrow’s OPEC meeting.
Yen weakness and Dollar strength is dominating the market at the moment. Keep an eye out for GDP figures being released out of the UK and Canada today, as well as ADP figures being released out of the US to give an indication of the outcome for NFP.
The focus today will be on GDP figures coming out of the UK at 8:00am (SAST) this morning as well as the ADP figures coming out of the US AT 2:30pm (SAST) this afternoon.
2:00am - Final ANZ Business Confidence (NZD)
3:00am - Manufacturing PMI (CNY)
8:00am - Final GDP q/q (GBP)
2:15pm - ADP Non-Farm Employment Change (USD)
2:30pm - GDP m/m (CAD)
4:00pm - Pending Home Sales m/m (USD)
4:30pm - Crude Oil Inventories (USD)