On the Geo-Political front, there has been no new “war of words” between the US and North Korea over the weekend. What will be moving markets today? This 2 October Must Watch Daily Forex Events Overview from FxPro will guide you through the day.
2 October Forex and Commodities Market Outlook
EURUSD loss nearly 0.3% in early Monday trading, as the markets watched the referendum in Catalonia – early suggestions are that 90% of the “unofficial” vote have called for independence from Spain. Currently, EURUSD is trading around 1.1765.
USDJPY is 0.2% higher in early Monday trading, even with a higher than expected factory data release from Japan earlier in the trading session. Currently, USDJPY is trading around 112.90.
GBPUSD is slightly lower following calls from senior government officials that Theresa May’s tenure as Prime Minister may be coming to an end. GBPUSD is currently trading around 1.3350.
Gold is down 0.5% in early trading, as risk-on sentiment has pushed the precious metal down to levels last seen over 7 weeks ago. Currently, Gold is trading around $1,274.
WTI is little changed from Friday, currently trading around $51.70pb.
2 October Must Watch Daily Forex Events
At 15:00 BST, Markit Economics will release the Markit Manufacturing PMI for September. As manufacturing forms a major component of total GDP, this release is an important indicator of business conditions and the overall economic condition in the US.
At 15:00 BST, the US Institute for Supply Management (ISM) will release Manufacturing PMI and Prices Paid for September. Akin to the Markit PMI released at the same time, the ISM PMI is also an important indicator as to the “health” of the US economy. PMI is expected to come in at 58 (Prev. 58.8) and prices paid are expected to come in at 64 (Prev. 62).
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