During today’s early trading session, Asian stocks continued to trade lower as Japanese shareholders took profits towards the end of the first quarter. Following the release of mixed Japanese data the Dollar dropped against the Yen and bounced off a key support level of 119.4.

The price of Gold rallied and is now testing resistance $1,197/ounce as market spectators react to positive data out of China. The Manufacturing PMI and HSBC Manufacturing both showed slightly better readings than expected, furthermore, negative U.S. data released today continued to support the precious metal. The ADP Nonfarm Employment Change was significantly lower than the expected 225,000 with a reading of 189,000. Negative data in the U.S. labor market could delay an interest rate hike in the states.

Traders are now awaiting the release of the Nonfarm Payrolls on Friday, analysts expect the number of people employed during the previous month would have risen by 240,000. The market tends to react with high volatility in accordance to the actual figure released. Higher than expected could push the Dollar up in the short term.

Ask us about our FREE financial advice program: 

Other top stories:

All Your Brokers and Signals in 1 Place - Binary Trade Center

Countless Already Joined and Made a Profit - What About You?

How I Made Over $30,000 a Year by Investing in Binary Options

Follow us and SHARE this story on Facebook: