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Daily market overview – 04/05/2016

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Daily market overview – 04/05/2016

Daily market overview – 04/05/2016
May 04
09:00 2016

Wall-Street had another Red day yesterday, following a grim closing in Europe after the Eurozone growth expectations were cut from 1.7% to 1.6% in 2016. The US leading indices all lost about 1%, while in Europe DAX dropped by 1.95% and CAC40 lost 1.6%.

The dollar had a wild day yesterday, as the EUR/USD briefly had touched 1.16 for the first time over a year before turning the table and dropping over 100 pips below 1.15. The sentiment is still negative regarding the greenback, and the market in waiting for Friday’s NFP report, perhaps, to get a better glimpse of the near future of the dollar.

After a long steady climb, commodity prices stumbled yesterday. Oil prices dropped by 2%, falling below 44$, while gold prices retreated from their recent 15-month high near 1300$, and are currently being  traded at around 1280$.

Key Market Data Today:

12:15 – USD: ADP Nonfarm Employment change.

14:00 – USD: ISD non-manufacturing PMI.

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2 Comments

  1. Antonio
    Antonio May 04, 12:48

    All you need to work effectively in the Forex market is the daily market overview, analysis of the current situation and forecasts for the nearest future. Let your trade be successful!

    Reply to this comment
  2. Frank
    Frank May 04, 16:35

    It’s no wonder that Wall Street indices are sensitive to any changes in the financial world. The dollar is suffering, too

    Reply to this comment

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