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Daily market overview – 03/02/2015

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Daily market overview – 03/02/2015

Daily market overview – 03/02/2015
February 03
09:00 2015

It seems so far like February is following January’s footsteps, as we are experiencing high volatility in the world’s leading stock exchanges, while the Forex scene remains rather quiet.

Yesterday was no different, as screens where red all around. After a slight resurgence last week  oil prices rose to 34$, the black gold plummeted back below 30$, adding to global concerns. Wall-Street suffered a very bad day, as the S&P and the DOW dropped 1.9%, while the NASDAQ descended by 2.25%.

The USD lost some ground yesterday, as its index dropped below 99$. The EUR/USD broke above 1.09 and remained above the mark mostly, while the USD/JPY eased off its recent BoJ’s inspired leap, dropping back below 120 after reaching a 6 week peak at around 121.5 earlier this week.

We are looking forward to this Friday’s NFP report, which could provide insight regarding the Fed’s ability to further hike its interest rate in the coming months. Today’s ADP Non-Farm employment change report could hint us as to how January looked like in the job market, and provide some stimulation for the Dollar to make a move.

Key Market Data Today:

09:30 – GBP: Service PMI.

13:15 – USD: ADP Non-Farm Employment Change

15:00 – USD: ISM Non-Manufacturing PMI.

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2 Comments

  1. Sava
    Sava February 03, 10:03

    As an investor I always look forward to the NFP report as its data can steeply change my plans

    Reply to this comment
  2. Antonina
    Antonina February 03, 12:29

    Forex market is always full of surprises and unexpected events that can change the picture of the market and mess things up, so stay vigilant.

    Reply to this comment

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