Previous Story
EU Bullet Report | Did we reach a bottom in OIL and stocks?
- Yesterday, the US ADP job report surprised on the upside which may suggest that the non-farm payroll number on Friday may turn out stronger than expected as well.
- Strong ADP data, boosted the USD index which now trades to its strongest level in almost a month.
- EURUSD: Reached one month lows at 1.0823, while today is trading at 1.0857. EU PMI data and Retail Sales will set the tone for the EURO until the afternoon where ISMK manufacturing will be released.
- The series of positive data from US, have eased concerns about upcoming recession.
- Stocks in US closed modestly higher while Asia today followed suit with Nikkei up 1.27%. This was the 3rd straight session of gains in Asia.
- OIL: Shrugged off record high U.S. crude stockpiles as investors chose to focus on an OPEC plan to freeze production, keeping alive talk the market had bottomed from a near two-year selloff.
- USDJPY: 3 straight gains in Asian stocks means three straight gains for the JPY which yesterday reached a new 2 week high at 114.54
- GBPUSD: Strong gains in GBPUSD continue to be the case for the 4th straight day. GBPUSD recovered from Brexit fears of 1.3832to 1.4082. UK PMI will be released later, a small decline is expected suggesting the UK 3economy will likely slowdown in the upcoming quarters.
Next in line is Friday’s NFP Report which will be highly anticipated.
Please note: Try our new trading platform www.easymarkets.com and login with your same username and password you use at easy-forex. Experience a better user interface with news, Technical Analysis and charts – all in one page.
The post EU Bullet Report | Did we reach a bottom in OIL and stocks? appeared first on Forex.Info.
Source:: EU Bullet Report | Did we reach a bottom in OIL and stocks?
