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Daily market overview – 05/05/2016

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Daily market overview – 05/05/2016

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

Wednesday was red again, as disappointing US data dragged Wall-Street’s main indices to descents by about 0.6%, while Europe’s main exchanges suffered as well.  DAX30, CAC40 and FTSE100 all lost nearly 1%. The ADP employment survey was lower than expected with an addition of 156K jobs compared to expected 196K, upgrading the tension before tomorrow’s NFP report.

The USD has been slightly on the fence for now, with its index steady since yesterday around 93.2$. The EUR/USD pair is still being traded at about 1.15 mark, while the USD/JPY has slightly recovered from its multi-year lows around 105.5 reached on Monday. It is currently being  traded at about 107.

Oil prices remain firm near yearly highs, which are close to 45$, despite higher than expected crude oil supply data from yesterday. Meanwhile, with similarity to the USD, gold prices remain around 1280$.

Key Market Data Today:

08:30 – GBP: ADP Nonfarm Employment change.

12:30 – USD: Initial Jobless claims.

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  1. Veber
    Veber May 05, 10:26

    Gold and the American national currency have a long interesting relationship. In the long term the declining dollar has always meant a rise in gold prices. However, in the short term, this pattern works not always, and fluctuations between these instruments are negligible.

    Reply to this comment
  2. Maria Fischer
    Maria Fischer May 05, 11:18

    According to Bloomberg, Wall Street stocks fell following the results of trading on Wednesday after the publication of non-uniform statistical data on the labor market and the service sector. By the way, at the moment, statistical data around the world do not bear positive.

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