February 4, 2014 - Daily Market News

Today Hot Asset : USD

The U.S. ISM Manufacturing PMI came out yesterday and surprised the market with their low number . Instead of the expected 56.4 there was 51.3 , which is the slow rate of 8 months. This resulted in speculation that the economy is slowing and the NFP Chart Friday could also disappoint. U.S. stocks tumbled after a report experiencing the biggest loss since June . In late trading the S & P 500 lost 2.28 % and the Dow Jones lost 2.08 %. Asian Stocks also fell , but the Nikkei closed 4.18 % lower ( 3 -month low) and Hang Seng closed 2.89 % lower. European stocks have followed the negative lead from other markets opened lower.

WTI traded near the weekly low negative after ISM data . The price is rising slightly traders are also nervous ahead of inventory data from the API later today ( 09:30 GMT ) . U.S. economic data has recently painted a picture of a slower economy and oil consumption may be high. Gold rose after the PMI data and immediately received $ 15/ounce . Negative data increased demand for safe haven assets as equity markets fell . The price is now in the range but we should still be careful with long- term buying positions in the light gradually .

Major Events of the Day:

14:00 GMT : USD - Treasury Secretary Lew Speaks - U.S. Treasury Secretary Jack Lew ( February 2013 ) is speaking. He speaks frequently on various topics , and his speeches are often used to signal policy shifts to the public and to foreign governments .

15:00 GMT : USD - Factory orders - measures the change in the total value of new purchase orders placed with manufacturers. The report also includes a review of the durable goods orders data released about a week before, as well as data , new data on Non-durable orders.

21:45 GMT : NZD - Employment Change - Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending