Market Update, plenty of set ups!

MARKET COMMENTARY


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Global risk appetite fades after mixed data

Global risk appetite looks like it will have trouble continuing along the positive trajectory posted yesterday, with equities ending the Asian session mixed and the guarded price action escalating during the European session and ultimately driving S&P futures lower before the opening bell.

ISM Non-Manufacturing PMI rises to 55.4, strong employment component – USD follows

The US ISM Non-Manufacturing PMI for October surprised by rising to 55.4 points. It was expected to tick a bit lower to 54 from 54.4 points in September. The services sector (non-manufacturing) is the vast majority of the US economy. The employment component rose from 52.7 to 56.2 points.

UK economic figures demonstrate attraction of GBP

Economic data out today in the UK shows that the little island is recovering much stronger than expected and is now forecast to be among the fastest growing economies in the western world in 2014. Data due out earlier today showed that Britain’s services sector increased in October at the fastest rate since 1997.

 AUD/USD: Trading the Australian Employment Change

 Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 00:30 GMT.

 NZD/USD back to uptrend channel on excellent job figures

 The employment situation in New Zealand, no matter how you look at it, and the improvement also exceeded expectations. The great data could bring forward rate hikes by the RBNZ and has already pushed NZD/USD higher, back to the uptrend channel that it lost recently. Can it challenge the highs of 2013?

 EUR/USD Nov. 6 – Steady Despite Weak PMIs and Retail Sales

 EUR/USD has moved higher on Wednesday, as the pair trades above the 1.35 line in the European session. In economic news, Spanish and Eurozone Services PMIs beat their estimates but the Italian Services PMI lost ground and fell short of expectations. Eurozone Retail Sales declined 0.6%, its weakest reading in nine months.