August 2, 2013 - Market News Daily
Confidence in the global economy be built after all round positive data yesterday, the manufacturing PMI data was released worldwide beating expectations, the U.S. unemployment rate fell to 5 years and lower during the European Central Bank Mario Draghi press conference that interest rates will likely remain low for some time. After data Asia and America stock rose. The dollar is rising and has also reversed losses against the euro.
WTI crude inventories keep rising after the U.S. beat expectations and the PMI data showed oil demand is growing. Gold is down the dollar is. Positive U.S. data supported the case for reducing stimulus is reduced demand for metals.
Investors await non-farm payrolls report due later today is expected to be 184K. Again this may provide more insight into the declining economic stimulus that could start would be great for trading binary options.
Today the main event:
09:30 GMT: GBP - Construction PMI - measuring the activity level of purchasing managers in the construction industry. A reading above 50 suggests expansion in the construction industry, a reading below shows co. It gives an indication of the health of the building in the UK. Traders watch these surveys closely as purchasing managers usually have early access to data about the operations of their company, can be a leading indicator of overall economic activity.
1330 GMT: USD - nonfarm payrolls - measures changes in the number of employed people during the previous month, excluding the farming industry. Job creation is the most important indicator of consumer spending, accounting for the majority of economic activity.
1330 GMT: USD - Unemployment - The unemployment rate measures the percentage of the total labor force that is unemployed and actively seeking employment during the previous month.
17:15 GMT: USD - FOMC members said Bullard - Federal Reserve Bank and Chairman of Louis Market Committee Federal Open (FOMC) voting members (March 2011 - today) James Bullard is to talk. FOMC members responsible for setting the benchmark interest rate and their speeches are closely monitored to indicate the possible direction of future monetary policy.
