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Daily Briefing – Thursday, January 4, 2018

Europe

A range of financial data out today in Europe is set to influence the EUR against major currencies. Markit PMI and Services PMI in Spain, France, Germany, as well as in the EU may support the euro currency after it fell yesterday on the release of the Fed’s minutes. The GBP is stronger, reacting to reports that the UK might join the Trans-Pacific Partnership after Brexit. Keep an eye today on GBP pairs as they react to financial figures this morning (GMT).

 

US

The greenback rallies after positive US economic data and yesterday’s Federal Reserve policy meeting. The dollar index which measures the greenback against a basket of six major currencies rose by 0.02 percent. The USD also rose in reaction to positive manufacturing and constriction data. Follow the crucial figures due out today as from 12:30 GMT.

 

 

Asia/Oceania

Asia Pacific markets rose yesterday in reaction to positive data out of the US and higher oil prices. Japanese markets reopened after the New Year break and they’ve done so with a bang. The Topix index was up 1.9 percent and the NIKKEI 225 soared by 2.5 percent. The Hang Seng also rose – by 0.2 percent, as did the Australian S&P/ASX 200 which went up by 0.1 percent. Will the trend continue today?

 

 

Commodities

Cryptocurrencies continue to capture traders’ imaginations with Ripple closing in on Bitcoin as the second best digital currency. It soared by more than 150% over the past week, surpassing the $3 mark. Gold reacted to US manufacturing data and has lost some of its gains but crude oil has risen after yesterday’s API data. Keep an eye the EIA Crude Oil stocks today.

 

 

Shares

The markets have welcomed in 2018 with record highs. The Dow Jones closed up by 0.4% and the NASDAQ by 0.8%. The S&P 500 was also positive. Will the positive trend continue?

 

Today’s Events

09:00 GMT EUR: Markit Services PMI: Markit PMI Composite
09:30 GMT GBP: Consumer Credit
18:30 GMT USD: EIA Crude Oil Stocks;

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