The Aftermath of U.S. Rate Decision Part II

By Kenneth@Xtrade - on May 3, 2018

The USD has been swing between tepid gains and loss as markets digested the day’s events. Clues from the day’s events have thus far been mixed, U.S. ISM Non-Manufacturing PMI was disappointing keeping the USD corned.

GBP was also unable to hold onto recent gains as disappointing Service PMI weighs, a reported 52.8 vs forecasted 53.5 was too heavy on the cable was seen ranging between   1.3542 – 1.3630 at the time of print dropped -0.22% to 1.3545. In the basket of major currencies EUR, AUD & JPY were the few to cling on to gains.

In the commodities arena both Crude and Brent gave up earlier gains assumed to come from supply cuts in Iran as Iran attempts to defile possible sanctions profit taking and new of possible increase in rig count limits upside movement for oil.

Meanwhile the Crypto blossom with Bitcoin tacking in 1.9% from its previous close.Safe havens like Gold, along with other metals were very bullish

Meanwhile, Global stocks turned bearish as investors look to the usual pre-weekend profit taking coupled with a gloomy release of earnings reports

Eyes remain fixed on Friday’s U.S NFP Non-Farm Payroll to possible left the USD on an uptrend ahead of the weekend.

 

 

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