Markets look towards US ADP jobs data for indication on direction of Friday’s non-farm figures
City Index March 5, 2014 2:13 PM
<p>Day three and we have a bit of a standstill, with the threat of a Russian invasion still on the cards but only as a […]</p>
Day three and we have a bit of a standstill, with the threat of a Russian invasion still on the cards but only as a last resort. As a result, there will be more of the same today as tensions ease and comments like last resort and talks hit the wires.
The Aussie has had a better start to trading after an uptick in Australian GDP to 0.8% from the last reading of 0.6%. It is still, however, weighed down from earlier comments in the week from the RBA about the rate being too high, and Russia-Ukraine tensions.
There is more PMI data out today, with Europe and UK figures set to be released in line with expectations. The main news today will probably be the ADP data which normally gets the markets active. The link to a strong or weak non-farm payroll on Friday – the number is expected to be lower than last time at 159k mainly due to the weather. Any rise in this data could be seen as coming out of the bad weather excuse and back to normal releases. Only time will tell.
Supports 1.3720 1.3680 1.3640 | Resistance 1.3750 1.3780 1.3825
Supports 101.85 101.55 101.20 | Resistance 102.35 102.50 102.85
Supports 1.6640 1.6580 1.6525 | Resistance 1.6700 1.6730 1.6770
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.