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: 109072, member: 38730"] [b]Daily Market Outlook 5th 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 rose on Monday, getting a tailwind from gains on Wall Street after a weaker-than-expected U.S. jobs report prompted markets to trim expectations that the Federal Reserve would hike interest rates as early as this month. Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday that the U.S. economy appears strong enough to warrant significantly higher interest rates. But the odds for a December hike edged up to 54.2 percent from 53.6 percent on Thursday. BNY Mellon senior global markets strategist Marvin Loh expects the Fed to hold off on any rate hikes until December, when they can factor in three additional jobs reports as well as the U.S. third-quarter growth report. Markets were also keeping a watch on the two-day summit of leaders from G20 nations, in Hangzhou, China. Chinese President Xi Jinping said at the open of the summit on Sunday that global economy is being threatened by rising protectionism and risks from highly leveraged financial markets. Most economists expect the central bank to hold policy steady, though some believe the ECB could extend its asset buying program. The global economy is being threatened by rising protectionism and risks from highly leveraged financial markets, Chinese President Xi Jinping said at the open of a two-day summit of leaders from G20 nations. The U.S. dollar held firm in early Asian trade on Monday after disappointing U.S. jobs growth figures for August did little to change investors' perception that the Federal Reserve is likely to raise interest rates in coming months. Nonfarm payrolls rose by 151,000 jobs last month, the U.S. Labor Department reported on Friday, below the 180,000 jobs that economists had expected. Average hourly wage earnings, a key gauge of inflationary pressure, rose 0.1 percent, also fell short of market expectations of 0.2 percent increase. Yet, with the average payroll increase over the last three months handily topping 200,000, investors concluded that the data would not be a serious blow to the Fed's plan to raise interest rates. U.S. Fed Funds futures price thus quickly gave up gains to stand almost unchanged from before the data, pricing in just over a 20 percent chance of a hike this month and more than a 60 percent chance by the end of year. There was limited reaction so far to the defeat of German Chancellor Angela Merkel's Christian Democrats in a local election on Sunday. CDU were beaten into third place after not only Social Democrats but also the anti-immigrant and anti-Islam Alternative for Germany (AfD) party in an election in her home district of Mecklenburg-Vorpommern. The British pound held relatively firm at $1.3293, having hit a one-month high of $1.3352 on Friday after a survey showed a downturn in Britain's construction sector was easing. Coming after surprisingly resilient reading in UK manufacturing survey, the data helped to boost expectations that the economy is holding up well after the shock Brexit vote in June. Manufacturing output worsened in the three months to August as domestic orders wilted, reversing an improvement earlier this year, industry association EEF and accountancy firm BDO said. The Bank of England, which has said it expects to cut interest rates again this year, is likely to view the weaker investment plans by manufacturers as consistent with its expectation that Britain's uncertain future trading ties with the EU will gradually take its toll. EEF expects Britain's economic growth to stall in the second half of 2016 and stay weak in 2017. Manufacturing output would rise 0.4 percent this year but contract 0.7 percent next year. The Markit/CIPS PMI for the services sector, due at 0830 GMT (4.30 a.m. ET), will provide more information on how Britain's economy has performed over the last month.in the first quarter, a figure flattered by leap-year effects. Crude prices drifted turned weaker in Asia on Monday in an expected light trading day with the U.S. and Canada on public holidays with comments out of the G-20 summit in China eyed for demand cues. In the week ahead, oil traders will be focusing on U.S. stockpile data on Wednesday and Thursday for fresh supply-and-demand signals. The reports come out one day later than usual because of Monday's Labor Day holiday. Last week, oil futures snapped a four-day losing streak on Friday, amid Russian comments favoring a production freeze, but still suffered a hefty decline for the week amid ongoing concerns over a global supply glut. Oil prices strengthened on Friday after Russian President Vladimir Putin said in an interview with Bloomberg that an agreement between major oil exporters to freeze output would be the right decision to support the market. His comments followed similar rhetoric from Saudi Arabia's foreign minister Adel al-Jubeir, who reportedly said on Thursday that some sort of a production agreement could be made between OPEC and non-OPEC producers at this month's meeting. OPEC members are set to discuss a potential production cap at an informal meeting on the sidelines of an energy conference in Algeria between September 26-28. Despite the supportive remarks, chances that the upcoming meeting in late September would yield any action to reduce the global glut appeared minimal, according to market experts. Instead, most believe that oil producers will continue to monitor the market and possibly postpone freeze talks to the official OPEC meeting in Vienna on Nov. 30. An attempt to jointly freeze production levels earlier this year failed after Saudi Arabia backed out over Iran's refusal to take part of the initiative, underscoring the difficulty for political rivals to forge consensus. [/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…