Forex Marketz Daily Forex News – Fully Markets Update
Good morning and welcome to CupO’Forex. This is David Frank with your daily video analysis for Monday, November 3.
Today is one busy day for our economic calendar. China came out with its Markit PMI data and their numbers came out stronger than expected. They printed at three month highs. Next up is Europe: Italy, France, Germany, Estonia and Greece, starting at 0845 GMT, all release their PMI data for the month. Expect a mixed bag and poor numbers for France. France’s manufacturing data has been in contraction for some time now and we expect the number to show further contraction.
Later on this afternoon, at 1500 GMT, the United States will release their ISM Manufacturing number. We expect them to meet or beat expectations. Finally, the Bank of Canada’s Governor at 1700 GMT finishes the day off with a speech.
Looking at our technical analysis today, we see a yen that collapsed when the BOJ surprised us with further QE, a EUR/USD that is below 1.25 and sellers in control of the yellow metal, gold. All in all could be one volatile day in all of the world’s financial markets.
Thank you for listening and have a wonderful day.