The dollar traded lower versus majors following the 47.8 ISM Manufacturing PMI reading, the worst on 10 years. The release was sharply lower than the 50.2 reading expected sending the dollar lower from 2-year highs versus majors. More to come Friday after the release of the NFP, a stronger and more important gauge for the US economy short term. US equity markets reacted to the manufacturing numbers with a sharp move lower, sending indexes to a minus 1% close. EU markets traded lower as well, closing the trading day at their lows, and losing 1.4% on average yesterday. The move to safety made a comeback yesterday, that’s after a sharp pullback in Gold and Silver over the past week. Gold closed higher at $1,481 per ounce and Silver prices reversed to close at $16.75 per ounce. Oil will be in focus for investors today, after the release of the Inventories numbers today in the afternoon and following the sharp drop in prices over the last two weeks. Prices closed lower again yesterday, on global recession fears and increased projected US stockpiles, that’s despite record lows OPEC production levels and well as lower Russia and US production outputs, Oil closed lower 0.75% at $53.88 per barrel, at 4-week lows.
US ADP non-Farm Employment change at 1:45 pm and Oil Inventories at 2:30 pm are the important news on the agenda Wednesday. (all times GMT).
|Global Markets 24 hours wrap-up|
|TRADE||ENTRY PRICE||POSITION||OPEN PROFIT||DATE TRIGGERED||STOP LOSS||UPDATES|
Oil looks lower on global recession fears and ahead of the Inventories numbers today in the afternoon.
DAX futures short trade from “bear flag” formation after by selloff day yesterday.
Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.