Currency markets are more or less unchanged today although it has been a volatile session, with both Cable and the Euro making new multi-year highs before heading back to pretty much near where they started the day. The main interest was in the DJ, which cracked 22,000, boosted by Apple shares and assisted by doubts as to whether the Fed will be able to raise rates again this year, after the ADP jobs numbers failed to meet expectations, coming in at 179K, as opposed to the expected 190K. Various Fed speakers have given mixed messages as to the chances of an impending rate hike although these have been generally brushed off and traders will now await the official US jobs data, due on Friday.
The BOE Meeting/Statement/Minutes/Vote Count/APP Facility will be the main event on Thursday, leaving plenty of opportunity for some decent volatility in Sterling. Elsewhere, it will be the Services and Composite PMIs that will be in focus, beginning with the Caixin China figure. The US will have a bunch of secondary data; Factory Orders, PMIs, Jobless Claims although most of the focus will be on tomorrow’s NFP release. The NZ Trade Balance is due shortly.
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|INDICES / COMMODITIES|
|ASX SPI: 5691|