Daily Update - 5th July 2017
A Quiet Day for US Dollar since US Market will be closed for Independence Day. Early Morning Australia released retail sales report which indicated that Australia is growing stronger in its retail sector followed by RBA Interest Rate Decision & Rate Statement which remained unchanged. Mid-day UAE time Euro Zone released Producer Price Index which an indicator of change of Prices in the Domestic production released did not meet the expectation placed and it further supported the USD to dominate the Euro currency. Euro keeps plummeting further down equivalent to all rival currency of USD due to, Analyst’s believe that US Federal Reserve will most likely increase their Interest Rate once again this quarter. It was the second day for USD dominating the Market in this week. Positive note for Euro the EU Commission approve the buyout rescue for Italian Banca Monte Dei Paschi Di Siena by a 5.4 Billion-Euro Capital Injection from the Local Government Today will be a busy day for Foreign Currency Market since ECB Non-Monetary Policy meeting will be taking place in few hours and then the focus of the day shifts to US with release of Mid-Tier reports such as ADP Employment Change which gives us an indication on the change in the number of employed people in the US. Followed by Continuing & Initial Jobless claims. Euro will also release its Markit Services & Composite PMI reports. But focus of the day will be towards the FOMC meeting minutes to be held in the end of the day UAE timing. Yesterday’s Markets
Yesterday’s Focus
Today’s Reports
Today’s Focus
