FUNDAMENTAL ANALYSIS BY NSFX 05.01.2017
- BY: Donal Kelly
- January, 05th, 2017 9:06 +00:00
In Japan overnight the Markit Services PMI were published showing an improvement on the 51.8 figure previously with a reading of 52.3 USDJPY trading at 115.93 at time of writing. China released Caixin Services PMI figures for December. AUDNZD was trading at 1.0451 at time of writing. Foreign investment figures in the coming 24 hours will be published in Tokyo, followed by Labor Cash Earnings for November.
European Markets today will look towards Employment data from Denmark and Hungary, Wholesale Prices data from Austria and the Swiss Consumer Price Index data for December. EURCHF trading at 1.0723 at time of writing. Sweden will announce Industrial Production figures this morning before the Markit Services PMI will be released in the United Kingdom. Producer Price Index data will be released for the Euro Zone before the European Central Bank Monetary Policy Meeting Accounts will be released to the public this afternoon.
Across the Atlantic today US Jobless Claims figures and Industrial and Raw Material Prices in Canada will be released concurrently. USDCAD trading at 1.3292 at time of writing. A short while afterwards, the US will see Markit Services and Composite PMI data, followed by the ISM Non-manufacturing PMI for December. USOIL was trading at around $53 per barrel at time of writing, ahead of the EIA Crude Oil Stocks change figures later in the evening. GOLD pushed higher on dollar weakness, towards $1180 per ounce before possible profit taking induced a pullback towards the $1175 level.
I hope you all have a nice day.