Daily Update - 1st June 2017
Euro rose against the dollar on Wednesday as the dollar was weighed down on growing political tension in Washington. President Donald Trump’s administration has been the focus of independent investigation by the federal bureau of investigation and several congressional panels over alleged Russian meddling in the 2016 presidential election and potential collusion by the trump campaign. In aspect of reports which was released from US was mixed in results, pending home sales fell for second straight month in April. Majority of the focus has shifted to the US Non-Farm payrolls which will be released on Friday. Which could give the edge for USD over its rivals and indicate the probability of Rate Hike for June in US. Euro was up by 0.5% yesterday and the dollar index fell by 0.3% Britain’s Pound recovered yesterday after recent polls shows that Theresa may’s party is leading by two digit numbers. The pound has sunk as low previously since this same reason. Polls which came priory gave a small lead in between the labor party and Theresa may’s party. It will be busy day for the foreign currency Market today since major data will be released from US and Europe. Focus of this week is on USD for the Non-Farm Payrolls which is due to be released tomorrow but these reports released today could add weight to the USD Currency. The Markit Manufacturing will give us a clear indication of the growth of manufacturing sector of Europe. Since Manufacturing sector dominates the GDP of a country or it’s Union. GDP from Italy will give us an indication on the Economic conditions of Italy and the sectors which is on bullish or bearish state of Italy. Yesterday’s Market
Yesterday’s Focus
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Today’s Focus
