Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Market Outlook By PYX Markets
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="PYX Markets London, post: 108899, member: 38730"] [b]Daily Market Outlook 1st September [/b] [img]https://scontent-amt2-1.xx.fbcdn.net/v/t1.0-9/13938553_118457278597764_4706199327588223406_n.jpg?oh=4cb4000aa052d5b9cf8c6e211c4ac665&oe=581DD5BC[/img] Asian shares dipped on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if U.S. employment data could put the Federal Reserve on track to hike interest rates. Activity in China's manufacturing sector unexpectedly expanded at its fastest pace in nearly two years in August as construction boomed, suggesting the economy is steadying in response to stronger government spending. The best factory reading since late 2014 may reinforce growing views that China's central bank will be in no hurry to cut interest rates or banks' reserve requirements, for fear of adding to high debt levels or fuelling asset bubbles. China's manufacturing activity stagnated in August as growth in output and new orders slowed, prompting companies to shed staff for the 34th month in a row, the private Caixin/Markit Manufacturing Purchasing Managers' index (PMI) showed. Its index slipped to 50.0 in August, the no-change mark which separates expansion of activity from contraction on a monthly basis, from 50.6 in July. But China's official PMI survey was more upbeat and showed manufacturing activity picked up unexpectedly in August, nudging up modestly to 50.4, compared with the previous month's reading of 49.9. Analysts had expected a reading of 49.9 for the second month in a row, and some thought there would be added weakness after Beijing ordered many plants around Hangzhou to close to clear the air ahead of China's first summit of G20 leaders Sept 4-5. Yet factory output growth accelerated, with the index rising to 52.6, the highest this year, from 52.1 in July. Total new orders expanded sharply, though export orders continued to shrink, albeit at a more modest pace. The dollar wavered against the yen and the euro on Thursday, its recent gains stalling before Friday's non-farm payroll report in the United States. A weaker dollar makes greenback-denominated commodities, including oil, cheaper for holders of other currencies. Friday's U.S. nonfarm payrolls report remains this week's key market focus, after Federal Reserve Vice Chair Stanley Fischer said last week the jobs data will be a factor in the timing of central bank interest rate hikes. Employers are expected to have added 180,000 jobs in August, according to the median estimate of 89 economists polled by Reuters. The ADP National Employment Report on Wednesday showed U.S. private employers adding 177,000 jobs in August, slightly above the 175,000 forecast by a Reuters survey of economists, and contracts to buy previously owned homes surged in July. But the dollar's gains were tempered after the Institute for Supply Management-Chicago said its business barometer dropped 4.3 points to 51.5 in August, falling short of expectations. Oil prices rose in Asian trade on Thursday as the U.S. dollar weakened, rebounding from a more than 3 percent drop in the previous session following surprisingly large builds in U.S. crude and distillate stockpiles last week. An unexpected boost in China's manufacturing sector also lent support to oil prices after official data on Thursday showed a modest gain in manufacturing activity in August. That came after U.S. crude inventories rose 2.3 million barrels to 525.9 million barrels in the week to Aug. 26, data from the Department of Energy's Energy Information Administration showed on Wednesday. That compared with analyst expectations of a 921,000-barrel increase. Distillate stocks, which include diesel and heating oil, unexpectedly rose by 1.5 million barrels, while gasoline inventories fell by 691,000 barrels, about half the forecast drawdown. Spooner also said the market took comfort from Chinese manufacturing data which showed activity held steady or saw a modest gain in August. The official Purchasing Managers' Index (PMI) rose to 50.4 in August, compared with the previous month's reading of 49.9, data on Thursday showed. The private Caixin/Markit Manufacturing PMI slipped to 50.0, the no-change mark, down from 50.6 in July. Speculation the Organization of the Petroleum Exporting Countries and other oil producers might agree to curb output at talks in Algeria later this month helped fuel an 11 percent rise in crude prices in August, the best monthly return since April. But optimism of an output freeze has since waned. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…