The dollar traded lower versus majors after the ISM Non-manufacturing PMI reading came in at 50.9, weaker than expected at 55.1. The weak reading coupled with the Manufacturing PMI weak numbers paint a bleak picture for the US economy near term. Next for investors, the NFP today at 8:30 am US, a major challenge for the markets given the latest array of bad readings for economic indicators. The JPY traded higher versus FX markets on the move to safety following the weakest ISM non-Manufacturing reading in 3 years, as investors mood is in limbo this week. US markets reversed higher mid-day following increased expectations of a Fed rate cut later this month, investors see now a higher probability for the FED to move lower with rates given the state of latest economic readings. Metals traded higher for the third day in a row, Gold closed at $1,508 per ounce and Silver at $17.47 per ounce and both will be in focus for investors following the NFP numbers today before US markets open. Oil continued lower on the weak economic readings then reversed sharply higher following US markets move, prices had a swing from as low as $51.01 at daily lows, and closed at $52.22 per barrel, the 11th day in arrow in the red and down 22% over the last 3 weeks.
US NFP at 1:30 pm and Fed Chairman Powell speech at 7:00 pm are the important news on the agenda Friday. (all times GMT).
| Global Markets 24 hours wrap-up | ||||||
|---|---|---|---|---|---|---|
| Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
| 3.10.19 | 0.33% | -0.28% | -0.19% | 0.1% | 0.32% | -0.3% |
| USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
| -0.66% | 0.17% | 0.58% | 0.29% | 0.09% | 0.12% | 3.6% |
| Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
| -0.15% | -0.05% | -0.63% | 0.3% | 0.12% | 0.32% | 0% |
| 1 YEAR | -2.95% | -4.59% | 0.52% | 1.25% | -10.7% | 10.92% |
| Swing report | ||||||
|---|---|---|---|---|---|---|
| TRADE | ENTRY PRICE | POSITION | OPEN PROFIT | DATE TRIGGERED | STOP LOSS | UPDATES |
| NASDAQ | 7670 | 8 | -30 | 4/40 | 7630 | new position |
| DAX | 12233 | 4 | 1,142 | 2/10 | 11970 | stopped out |
| OIL | 54.28 | 8 | 1,200 | 2/10 | 53.54 | |
| CADJPY | 80.4 | 0.8 | 190 | 3/10 | 80.62 | |
| OPEN PROFIT | $1,360 | |||||
Nasdaq futures rebounded sharply yesterday as expectations for a Fed rate cut this month increase.
The JPY and other “safe heavens” will be in focus following the release of NFP numbers today at 8:30 am US.
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