Daily Update - 5th March 2020
Primarily the markets were reacting largely due to the fact surprising Rate Cut by Federal Reserves. But Germany released their Services PMI which resulted negative pushing the Euro off the Edge against the USD. Later the day, GBP released their Composite and Services PMI both resulted negative but this did not have much of an effect on the Sterling pound after the Incoming Bank of England Governor released his statement that they will work in tandem with British Government. US ADP Non-farm Employment Change & ISM figures released resulting positive Stronger Dollar across the board. Today US will release their Initial Jobless Claims & US Factory Orders which will give us an indication on the supply and demand of US Economy after the Major catastrophic Corona Virus crisis. Finally to end a busy week, Mark Carney Governor of Bank of England will give out a speech and it will be closely observed by investors to monitor if there could be an indication of a possible Interest Rate cut in response to the crisis.Yesterday’s Market
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