Fundamental analysis for May 05, 2016

May 5, 2016

The dollar managed to recover when traders started to take profits before Non-Farm release. The USA published ADP Employment Change (156K vs. the forecast 196K). Non-Manufacturing PMI from ISM came in at 55.7 vs. the forecast of 54.7.

The latest Eurozone data showed a strong production growth in April (Markit Composite PMI 53.0, in the line with the expectations).

The British pound decreased on Wednesday and the pair lost more than 200 points. PMI Construction in the UK Britain fell in April to 52.0 (three-year low) from the previous 54.2. The index fell even though the general business activity index is in the “green zone”.

The USD/JPY is still low volatile amid the day off in Japan.

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September 29, 2016
OPEC decision lifts equities, commodity currencies
US stocks closed higher yesterday, led by gains in the energy sector as OPEC announced plans to cut production, to be formalized in the November OPEC meeting. The news helped lift commodity currencies as well with the Canadian dollar and the Norwegian Krone posting the biggest gains among its peers...
September 29, 2016
Energy stocks pushed up Asian markets
Oil prices surged following the surprise OPEC agreement on production cuts. USOil rallied 5% to $47.46 and UK Oil was up to highs over $49.00. The production cut was between 240k and 740k barrels per day, which will limit supply to between 32.5 mln and 33 mln barrels per day...
September 29, 2016
Energy stocks lead markets higher on OPEC surprise deal; Commodity currencies surged
When most traders thought an agreement to cut production was a mission impossible, OPEC surprised on Wednesday by announcing a preliminary deal to reduce output by about 700,000 barrels a day...

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