August 22, 2013 - binary otions Daily Market News
The FOMC meeting minutes showed that members of the committee supports narrowing of monetary stimulus this year and September is still on the cards. The U.S. economy is expected to strengthen further in the coming months. European shares rose after the launch. Asian and U.S. stocks both fell (Hang Seng fell by 0.4%).
Gold also fell after the minutes were released pushed by the stronger dollar. Chinese PMI data was released this morning and was better than expected at 50.1. This drove gold slightly higher bounced some of the losses. WTI fell slightly to strengthen the dollar but losses were limited because of the positive PMI data from the second-largest oil consumer.
Today's main events:
07:30 GMT: EUR - German Manufacturing PMI - measures the activity level of purchasing managers in the manufacturing industry. A reading above 50 indicates expansion in the sector, below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about its performance, which can be a leading indicator of overall economic development.
08:00 GMT: EUR - Manufacturing PMI - measures the activity level of purchasing managers in the manufacturing industry. A reading above 50 indicates expansion in the industry, below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about its performance, which can be a leading indicator of overall economic development.
12:30 GMT: CAD - Core Retail Sales (MoM) - measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy.
12:30 GMT: USD - Continuing Jobless Claims - measures the number of unemployed persons entitled to benefits under unemployment insurance.
12:30 GMT: USD - initial jobless claims - measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
