Daily Update - 4th April 2017
Yesterday’s Market Yesterday Explained US Dollar had a strong start to the week as it dominated most of the trading sessions on Monday. Retails sales from Australia came out negative in return making Australian dollar weak. Euro zone market manufacturing data had mixed results while Unemployment figures came out as expected. Even though Producer Price index reported positive figures it did not support the weakening EUR against USD. From US, ISM Manufacturing PMI and ISM prices paid figures were better than expected thus supported the strengthening dollar. Markit Manufacturing PMI figures were negative however markets did not that in to consideration. Today’s Market Today’s Focus Early morning Interest rate decision and rate statement from Australia will be released. This will be followed by PMI construction from UK which shows business conditions in the UK construction sector. Latter half of the day will be governed by US data, where first up will be Trade Balance report which is a balance between exports and imports of total goods and services. The day will end with Factory orders report which is a measure of the total orders of durable and non-durable goods. This can offer insight into inflation and growth in the manufacturing sector.
