Daily Alert: Friday 2nd September 2016

Mark NugentDaily Alert, Sept 2016

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Economic Calendar

UK Manufacturing PMI surprised at 53.3 vs expectation of 49.1. Being above 5o signifies an expectation of expansion. The GBP rose. Conversely, the US ISM Manufacturing PMI came in at 49.4 vs expectation of 52.0. The USD dropped.

Market Reaction

Equity markets have been quiet over the last 24 hours. Oil continues to drop. Bond yields hve been essentially flat for most of the last month.

Forex Indexes

GBP rises to short-term resistnace on the PMI news. CAD moves to support on the oil price decrease. USD down yesterday but well up on week.

Media

Nothing of note.

Today

Later today we can expect US Average Hourly Earnings, NFP and Unemployment Rate.

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