Japanese markets are closed till Thursday due to public holidays, however, a number of Asian stocks traded lower over fears of a slowdown of growth in China. The China HSBC Manufacturing PMI for April showed a reading of 48.9, this figure indicates that the manufacturing economy is declining, and has continued to decline for a second consecutive month. Furthermore, the Reserve Bank of Australia cut its interest rates for the second time in 4 months as the country struggles with the slowing Chinese demand. The Hang Seng Index was down 1.31%, closing at 27,755 and the Shanghai Composite dropped 2.81%.

During the European session, the British pound traded higher against the weaker Dollar despite negative data from the UK. The Construction PMI for the month of April showed a reading of 54.2 which indicated expansion, however, lower than the expected figure of 57.5. The Euro also traded Bullish following the European Commission’s quarterly forecast, the board raised its expectations for the growth of the economy from 1.3% to 1.5%.

The Dollar dropped against a basket of major currencies following a number of economic reports from the U.S., The ISM Non-Manufacturing PMI for April showed a higher than forecast reading of 57.8, however, the Trade Balance and the Service PMI both showed worse than expected figures.

Later today, New Zealand will release the first quarterly Employment Change, if the actual figure is lower than the forecast figure of 0.8% then the NZD could decline for the short term. Currency traders are also awaiting a number of economic reports taking place tomorrow from Australia, the United Kingdom and the United States.

Ask us about our FREE financial advice program: 

Other Top Stories:

Technical Analysis Lesson 1 - Introduction

Technical Analysis Lesson 2 - The Basic Assumptions

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

Follow us and SHARE this story on Facebook:  

Japanese markets are closed till Thursday due to public holidays, however Chinese stocks traded lower following negative data. The China HSBC Manufacturing PMI for April showed a reading of 48.9, this figure indicates that the manufacturing economy is declining, and has continued to decline for a second consecutive month. The Hang Seng Index was down by 0.03% and the Shanghai Composite was down 0.21% by the close of the Asian session. Following the release of positive data from Australia, the AUD/USD traded with Bullish sentiment and the pair is now trading above 0.784. The Building Approvals for March rose 2.8%, significantly higher than the expected decline of 2%. Australia is expected to lower interest rates tomorrow from 2.25% to 2%, this move could cause the AUD to decline against a basket of major currencies.

During the European session, the Euro traded lower against a basket of major currencies, despite European data beating expectations. The German Manufacturing PMI showed a reading of 52.1, slightly lower than the previous month’s figure of 52.8. Furthermore, the manufacturing PMI for the Eurozone indicated expansion with a reading of 52, but slightly lower than the March figure of 52.2.

The Dollar is trading higher against a number of paired currencies following a number of positive reports from the United States. On Friday, data showed that the Michigan Consumer expectations rose 88.8, above the expected figure of 88.1 and more data released today showed that the U.S. Factory Orders for the month of March grew at its fastest rate in 8 months with a 2.1% increase, slightly higher than the expected 2%. This positive data has boosted sentiment over the economic recovery and expectations over a highly anticipated interest rate hike.

Ask us about our FREE financial advice program: 

Other top stories:

6 Top Reasons Traders Fail - Why You Need Signals

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

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

Follow us and SHARE this story on Facebook:  

During the early trading session, Asian stocks traded lower as investors sentiment weighed over company earning. Shareholders are concerned over earnings reports from major corporate companies and the overall economy following the Bank of Japan Press Conference, where officials downgraded the outlook of inflation and growth. The Nikkei share average closed with little movement at 19,531 points. Following the release of Data reports out of Japan, they JPY/USD reached a weekly high. The Unemployment rate, National Core CPI, Yearly and Monthly Household spending all showed better than expected figures, however, the Tokyo Core CPI for the month rose just 0.4%, lower than the forecast figure of 0.5%.

During the European session, The British pound dropped sharply against the Dollar following negative data. The UK Manufacturing PMI for the month of April showed a reading of 51.9, indicating expansion of activity, however, lower than the expected figure of 54.6. The GBP/USD is currently trading below 1.523 Currency traders are now awaiting the outcome of next week’s UK government elections. The Euro continues to trade close to 10 week highs as Greece laid out reforms in order to reach an agreement with its creditors by May 12th, if a deal is not agreed over the nation’s current debt, then the country could go into default.

Binary Options traders are now awaiting a number of important economic events from the U.S., including, the ISM Manufacturing PMI, Michigan Consumer Expectations and Current Conditions, furthermore, FOMC Member Williams will be speaking later on today.

Ask us about our FREE financial advice program: 

Other top stories:

6 Top Reasons Traders Fail - Why You Need Signals

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

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

Follow us and SHARE this story on Facebook:  

During the early trading session, Asian stocks traded lower following weak U.S. data and poor earnings reports from the Japanese first quarter end. Yesterday U.S. reports showed that the GDP for the first quarter grew at a slower rate than expected. Furthermore, Japans Honda Motor company led losses as the Earnings Per share were 22% lower than forecast. Japan’s company shares also fell as the outlook over the country’s stimulus program; board members stated that “from the long-term perspective there is no need to ease policy further”. The NZD/USD dropped sharply following the RBNZ Rate Statement, Reserve Bank officials indicated that an interest rate cut was possible if demand and wages drop lower “than is consistent with the inflation target”.

During the European session, the Euro rose against the Dollar following data from Germany and from the Eurozone. Despite a report showing that Germany’s unemployment change dropped 8000 instead of the expected figure of -13k, positive data showed that the CPI for the Eurozone remained unchanged, analysts had expected that the price of goods and services to drop by 0.1%. Later in the session, the Dollar rallied against the Yen as Currency traders digested comments from the BoJ Press Conference; the Bank cut its forecasts for economic growth and inflation for 2015 and 2016.

Traders are now awaiting a number of important economic reports taking place tomorrow, including, the Manufacturing PMI for China, UK and the U.S.

Ask us about our FREE financial advice program: 

Other top stories:

Techinical Analysis - Introduction

6 Top Reasons Traders Fail - Why You Need Signals

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

Follow us and SHARE this story on Facebook:  

Japanese markets were closed today due to a public holiday, however, stocks in China closed higher as investors sentiment was boosted over expectations of higher returns on dividends. The index share average was led by gains in the Technology and computing software sectors. The Shanghai Composite Index was slightly up by 0.01%. Following the release of positive data from New Zealand, the NZD is trading with Bullish sentiment against a basket of major currencies. The Exports, Imports, monthly and yearly Trade Balance all beat analysts’ expectations. More data from New Zealand data will be release later this evening, including, the Interest rate decision and RBNZ Rate statement.

During the European session, the Euro was trading higher against a basket of major currencies as developments were made in Greece over the country’s debt bailout agreement. Officials handed the responsibility of the reforms to Deputy Foreign Minister Euclid Tsakalotus and limited the role of Finance Minister Yaris Varoufakis.

At the open of the U.S. session, the Euro strengthened further against the Dollar and has reached its highest level since March 1st. Sentiment weighed on the USD following the release of data out of the states. The GDP Price Index declined 0.1%, analysts were expecting an increase of 0.5%, more importantly, and the GDP for the first quarter grew just 0.2%, below the forecast figure of 1.0%. This negative data added to concerns that the Central bank may further delay an interest rate hike.

Market spectators are now awaiting the FOMC Statement and interest rate decision taking place at 19:00 GMT.

Ask us about our FREE financial advice program: 

Other top stories:

6 Top Reasons Traders Fail - Why You Need Signals

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

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

Follow us and SHARE this story on Facebook:  

During the early trading session, Asian stocks were mostly higher as investors sentiment was boosted over expectations of higher returns on dividends. The Nikkei share average was up 0.38%, closing at 20,058 and the Hang Seng slightly up by 0.03%. The Yen traded with low volatility against the Dollar during early trade, as traders remain cautious following yesterday’s announcement on Japan’s credit rating. Fitch downgraded Japan’s credit rating to “A” following a review of the government’s fiscal year’s budget. According to Reuters, the budget failed to lay out reforms to delay a sales tax increase. Furthermore, market spectators are awaiting the FOMC meeting taking place tomorrow.

During the European session, the UK released the Gross Domestic Product for the previous year and first quarter showing lower than expected figures. Following the negative data, the British pound briefly retreated from a monthly high against the Dollar, however the pair is currently trading with Bullish sentiment as the USD weakens ahead of tomorrow’s FOMC meeting.

The Dollar is trading lower against a basket of major currencies as currency traders await the Fed’s monthly policy statement. A number of recent economic reports have shown disappointing figures for employment, Manufacturing and Home sales, indicating that the Central bank may further delay an interest rate hike. Furthermore, the U.S. released more negative data today showing that the CB Consumer Confidence for April measured at 95.2, lower than the expected figure of 102.5.

Ask us about our FREE financial advice program: 

Other top stories:

6 Top Reasons Traders Fail - Why You Need Signals

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

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

Follow us and SHARE this story on Facebook: