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Medium Impact Daily Review 9/1/2016 by TrioMarkets

Discussion in 'Forex Daily News & Outlook' started by MickeyM, Sep 1, 2016.

  1. MickeyM

    MickeyM New Member

    Aug 29, 2016
    Likes Received:
    Market Overview:

    The day starts with a risk on tone after Chinese Manufacturing data beat market expectations

    Yesterday’s European macroeconomic data verified fears that Europe becomes the new Japan with low inflation and growth. Markets largely expect an extension of QE later this year and thereafter. Today we should keep an eye in European Manufacturing PMI’s which will give the tone to the European session. The further drop of Euro can help European stocks to move higher however political uncertainty in Spain should be monitored closely.

    For Crude oil the short term trend remain bearish however keep in mind that last week we had one of the largest rise in speculative long positions for the past ten years .

    Market awaits with great interest tomorrow’s NFP number and seems that believe that if NFP beat expectations the September hike is on the table. If NFP disappoints the sell off for USD will get aggressive and the questions about Fed’s hawkish language despite weak macroeconomic news will cause a nervous sell off on equities probably.

    Key points:

    · U.S. 10-year yield on track for biggest monthly gain in more than a year

    · Gold near 2-month low, dollar near 3-week high while waiting for jobs data

    · Fed's Rosengren says rate rise could temper risk in commercial real-estate sector

    · Japan press: "the BOJ may surprise the market yet again"

    · S&P index for August the index was down -0.17%

    · Fed's Kashkari: Wants to see core inflation rise before rate hike

    Attached Files:


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