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Abshire-Smith Market Analysis

Non-Farm Payrolls, What is the expectation?

It is the 1st August and the first Friday of the month, and today the US Bureau of Labor releases their employment figures, Non-Farm Payrolls at 13:30 (London,UK). In the last few trading sessions, the USD has been bid against the majors, following Federal Reserve’s announcement of further tapering and policy statement that interest rates are not too far off. This has seen US indices trade lower, and Gold weaken by $20, now trading $1282/oz....

Markit/CIPS UK Manufacturing PMI, Strong growth in July

The Markit/CIPS Manufacturing Purchasing Managers Index (PMI), growth continued in July, though missed expectations. The survey released at 9:30am (London), was 55.4 for July, down from 57.2 in June. The number was well above the 50 level (contraction/expansion level), however sterling has been weak in FX markets against the USD in the last few days. GBPUSD In the last quarter, the majority of macro releases were beating expectations, with Sterling trading at a 5-year high on interest rate hike...

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