Dollar Buoyed as Trade Optimism Lifts Market Sentiment, EUR Data will Need to Impress

Daily Update - 6th November 2019

Yesterday’s Market

• GBP Markit Services PMI
• USD ISM Non-Manufacturing PMI & Markit Services PMI

Yesterday’s Explained

To kick off the day yesterday GBP Markit Services PMI resulted positive while on the US Arena the Markets sent out a mixed signal with ISM Non-manufacturing PMI resulting positive for the Dollar which had further support from Sino-U.S Trade negotiations going well. But the Markit Services PMI showed slow down and a possible result of the ongoing Trade War affecting the services sector largely.

 

Today’s Market

• EUR Markit Services PMI & Retail Sales
• USD Nonfarm Productivity

Today’s Focus

The PMI monthly Composite Reports on Manufacturing and Services, released by Markit Economics, are based on a large number of business executives in private sector manufacturing and services companies. Data is usually released on the third working day of each month.

The Retail Sales released by the Eurostat is a measure of changes in sales of the Euro zone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending.