August 5, 2013 - Daily News Market
Non-farm payrolls on Friday were much lower than expected (162K instead of 184K). It was the lowest since four months. This has caused more confusion about when the Fed will start to type the monetary stimulus. The U.S. dollar index fell and remained low after earlier signs that China could stabilize.
Asian stocks fell, while Japanese exports fell. Chinese shares rose after dairies increased.
Market of today's events:
0930 GMT: GBP - PMI services - measures the activity level of purchasing managers in the services sector. A reading above 50 indicates expansion in the sector and a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company's performance, which can be a leading indicator of overall economic performance.
10:00 GMT: EUR - Retail Sales m / m - measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
15:00 GMT: USD - ISM Non-Manufacturing Index - Prices of relative level of economic conditions including employment, production, new orders, prices, supplier deliveries and inventories. Data are compiled from a survey of about 400 purchasing managers in the non-manufacturing sector. On the index, a level above 50 indicates expansion, below indicates contraction.
4:45 p.m. GMT: USD - FOMC Member Fisher Speaks - Federal Reserve Bank of Dallas President and Federal Committee of the Open Market Committee (FOMC) voting member (2008 and 2011) Richard Fisher is speaking. FOMC members are responsible for setting the benchmark interest rate and their speeches are closely watched for indications on the possible future direction of monetary policy
