69 procent av alla icke-professionella kunder förlorar pengar på CFD-handel hos den här leverantören. Du bör tänka efter om du har råd med den stora risk som finns för att du kommer att förlora dina pengar.


Strong PMI propels US indices and oil into the green heading into payroll reports

Strong PMI propels US indices and oil into the green heading into payroll reports

It’s been a very mixed day for trading across global markets. Ongoing Brexit and financial concerns continued to drag on GBP, EUR plus financials, UK and European stocks through the day while driving more capital into defensive havens like gold, JPY and bonds. US stocks started the day lower but regained their footing and clawed their way into positive territory on the back of a much stronger than expected ISM non-manufacturing PMI report, a sign of a robust US economy and positive environment for corporate earnings. USD also picked up on the news which, if it wasn’t for Brexit uncertainty, would be seen as evidence supporting a US interest rate hike. There weren’t any big surprises in the FOMC June minutes which showed the central bank confused about the meaning of last month’s soft nonfarm payrolls growth and concerned about the Brexit vote which had not been held at the time of the meeting. The days since the Brexit vote had been light for economic news but we’re now heading into a busier time for economic and corporate news which may give traders more to sink their teeth into. Market action over the last two days shows us that currently traders are seeing good/hawkish news as positive for stocks and currencies with bad/dovish news being seen as negative for stocks and currencies. As noted, the positive/hawkish US PMI news sent US stocks and USD higher. In contrast, yesterday’s dovish move at the Bank of England freeing up £150B in lending power for banks and today’s indication from Sweden’s Riksbank that the removal of negative interest rates is likely to be pushed out further have been accompanied by selloffs in GBP, EUR and stocks on both sides of the English Channel. Fear trades which looked crowded in the morning appeared tired by the afternoon with a number of contracts reversing course a bit, particularly US stocks, gold and JPY. Crude oil also posted a strong bounce reversing part of yesterday's 5% decline with a 2% gain. Oil popped again late in the day on a massive 6.7 mmbbl drop in API inventories and may remain active through tomorrow's DOE inventory reports. Focus now turns to the US, particularly Thursday's US ADP and Friday's non‎farm payrolls reports, with traders looking for whether last month's really low nonfarm number is an outlier or not. Jobless claims for the last two months plus last month's ADP report indicate a robust job market. This suggests nonfarm payrolls could be revised upward. It's also unclear if low job growth at this stage of the cycle would indicate a slowing economy or one nearing full employment. Corporate News There have been no major announcements after the US close today. Economic News Significant announcements released overnight include: US API crude oil inventories (6.7 mmbbls) vs street (2.5 mmbbls) US ISM non-manfctrng PMI 56.5 vs street 53.3 and previous 52.9 US Markit service PMI 51.4 vs street 51.3 Canada trade balance ($3.3B) vs street ($2.7B) US trade balance ($41.1B) vs street ($40.0B) Sweden interest rate (0.50%) no change as expected Poland interest rate 1.50% no change as expected UK BRC Shop prices (2.0%) vs previous (1.8%) Germany factory orders (0.2%) vs street 0.9% Spain industrial output 1.0% vs street 2.2% Germany construction PMI 50.4 vs previous 52.7 Germany retail PMI 51.6 vs previous 54.0 Italy retail PMI 40.2 vs previous 45.2 Sweden unemployment rate 3.8% vs previous 3.6% Upcoming significant economic announcements include: (Note: 11:30 am in Sydney/Melbourne is currently 1:30 pm in Auckland, 4:30 pm in Vancouver, 7:30 pm in Toronto/Montréal, 12:30 am in London and 8:30 am in Singapore) 9:30 am AEST Australia construction PMI previous 46.7 8:30 am BST UK Halifax house prices street 7.8% 9:30 am BST UK industrial production street 0.5% vs previous 1.6% 9:30 am BST UK manufacturing production street 0.4% vs previous 0.8% 7:00 am BST Germany industrial production street 1.5% 9:00 am BST Norway industrial production previous 3.2% 10:00 am BST Greece unemployment rate previous 24.1% 12:30 pm BST ECB meeting minutes 8:15 am EDT US ADP Payrolls street 160K 8:15 am EDT US ADP payrolls revision previous 173K 8:30 am EDT US jobless claims street 267K 3:00 pm BST UK NIESR GDP estimate previous 0.5% 10:00 am EDT Canada Ivey PMI street 51.2 vs previous 49.4 10:30 am EDT US natural gas street 41 BCF 11:00 am EDT US DOE crude oil inventories street (2.5 mmbbls) 11:00 am EDT US DOE gasoline inventories street (0.2 mmbbls) CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

CMC Markets erbjuder sin tjänst som ”execution only”. Detta material (antingen uttryckt eller inte) är endast för allmän information och tar inte hänsyn till dina personliga omständigheter eller mål. Ingenting i detta material är (eller bör anses vara) finansiella, investeringar eller andra råd som beroende bör läggas på. Inget yttrande i materialet utgör en rekommendation från CMC Markets eller författaren om en viss investering, säkerhet, transaktion eller investeringsstrategi. Detta innehåll har inte skapats i enlighet med de regler som finns för oberoende investeringsrådgivning. Även om vi inte uttryckligen hindras från att handla innan vi har tillhandhållit detta innehåll försöker vi inte dra nytta av det innan det sprids.

Standardiserad riskvarning: CFD-kontrakt är komplexa instrument som innebär stor risk för snabba förluster på grund av hävstången. 69 procent av alla icke-professionella kunder förlorar pengar på CFD-handel hos den här leverantören. Du bör tänka efter om du förstår hur CFD-kontrakt fungerar och om du har råd med den stora risk som finns för att du kommer att förlora dina pengar.