mask A Choppy Day Ahead, with U.S Weekly Jobless Claims as the Only Distraction

02/ 04/ 2020

A Choppy Day Ahead, with U.S Weekly Jobless Claims as the Only Distraction

Daily Update - 2nd April 2020

Yesterday’s Market

  • Germany Manufacturing PMI
  • UK Manufacturing PMI
  • US ADP Nonfarm Employment Change & ISM Manufacturing

Yesterday’s Explained

Germany Manufacturing PMI resulted negative pushing the Euro off the edge against the Dollar. UK Manufacturing PMI resulted positive but markets reacted unorthodox and resulted on some early losses against the Dollar and then picked up on the latter part of the session.

Finally, US Data was released on ADP Nonfarm Employment Change & ISM Manufacturing both resulted positive pushing the Dollar to the near Safe Haven status but the reports of New Positive cases recorded across US derailed the currency’s Positive outlook for the latter part of the day.

 

Today’s Market

  • GBP UK Construction PMI
  • USD US Initial Jobless Claims

Today’s Focus

UK Construction PMI will give us an indication on the current Construction status of the country and also how the manufacturing sector is performing.

Finally, to conclude the busy day US will release their Initial Jobless Claims which will be a key indicator on the Economic condition and how the stimulus provided by United States to the current pandemic and their Job Sector status.