September 2, 2013 - Daily Market News
Asian and European stocks rose after Chinese Manufacturing PMI came out better than expected. This shows the expansion of industry and gives confidence that the global economy is growing. European stocks rose to their highest in 8 weeks. The stocks are also rising fears of military action in Syria is fading .
Gold is down thrust on both decreased the fear of a Syrian intervention and speculation that the Federal Reserve will reduce stimulus. WTI is down after President Obama said he will seek approval from Congress for intervention in Syria - delay a potential attack .
There U.S. and Canadian markets will be closed today due to the Labor Day so that binary options trading can be thin.
Today the main events :
07:45 GMT : EUR - Italian manufacturing PMI - measures the activity level of purchasing managers in the manufacturing sector . A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely purchasing managers usually have early access to data related to performance of their company , which can be a leading indicator of overall economic performance
08:00 GMT : EUR - German manufacturing PMI - measures the activity level of purchasing managers in the manufacturing sector . A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely purchasing managers usually have early access to data related to performance of their company , which can be a leading indicator of overall economic performance .
08:00 GMT : EUR - Manufacturing PMI - measures the activity level of purchasing managers in the manufacturing sector . A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely purchasing managers usually have early access to data related to performance of their company , which can be a leading indicator of overall economic performance .
